George Postolos Rumors
George Postolos, former president and CEO of the Houston Rockets, said the sale, if approved by three-quarters of the NBA’s owners, would provide relief to Commissioner Adam Silver, enrich the Sterlings beyond most expectations and, potentially, end a five-week spectacle. “It’s a positive outcome for the league and a good financial outcome for the Sterlings,” Postolos said. “And they can get this story off the front page, which I think would be good for everybody.”
Houston businessman Jim Crane, who has reportedly entered the final stages to buy the Astros from Drayton McLane Jr. for approximately $680 million, will likely hire former Rockets president George Postolos as chief executive officer under the new ownership, according to a Houston Chronicle report Thursday night. The 47-year-old Postolos will have ownership in the club while overseeing the day-to-day operations, as he’ll report directly to Crane.
Sources close to the team have identified Beverly Hills (Calif.) financier Tom Gores, George Postolos, a former NBA and Houston Rockets executive, and unidentified investors from Dubai as potential buyers. Mike Ilitch, owner of the Red Wings and the Tigers, announced Aug. 9 his family also is in the running.
Meanwhile, a few more details emerged about businessmen George Postolos and Tom Gores, who, the Free Press reported Thursday night, could have an interest in purchasing the Pistons. Ilitch, owner of the Red Wings and Tigers, announced Monday that he would try to buy the team from Karen Davidson, who hopes to sell before the season opener. An industry source familiar with Postolos and Gores said they were “value buyers,” meaning they likely would not overspend for the Pistons (and Palace Sports & Entertainment). The source requested anonymity because he isn’t authorized to speak for any of the parties, all of whom must sign nondisclosure agreements.
George Postolos, former president of the Houston Rockets and former special assistant to NBA commissioner David Stern, has emerged as a candidate to buy the Pistons, The Detroit News has learned. In addition, Flint-raised Tom Gores, the 204th-richest American according to Forbes, has also shown interest in buying the team. A source close to the situation said both groups have been approved by the NBA.
A one-time NBA executive has emerged as a bidder for the Pistons. The Free Press has learned that businessman George Postolos met with the ownership group Wednesday and has emerged as a potential buyer of the Pistons, according to multiple sources. The sources requested to remain anonymous due to non-disclosure agreements with the ownership group.