Tom Gores Rumors
The NBA may not approve the Pistons’ move to Detroit if all legal and financing matters are not settled before its board meets next month, according to an affidavit by the team’s chief financial officer. In a sworn affidavit filed late Friday, Palace Sports & Entertainment and Detroit Pistons CFO Greg Campbell said the lawsuit, which was filed in federal court June 1 by activist Robert Davis and City Clerk candidate D. Etta Wilcoxon, might hamper the team’s plans to play their first preseason game on Oct. 4 in Detroit, nearly 40 years after former owner Bill Davidson took the team to Oakland County.
Campbell said receiving the public dollars was a “condition” of the team’s agreement with the Detroit Downtown Development Authority, the public entity that owns the Little Caesars Arena which is also a new home to the Detroit Red Wings. The estimated cost of the project has increased from $450 million to $862 million and the project is anticipated to be 62% privately funded and 38% publicly funded. A new DDA proposal that council is to vote on Tuesday would issue an additional $34.5 million in bonds to support the Pistons’ relocation.
Tom Gores’ FlintNOW initiative and the National Basketball Players Association are giving $300,000 worth of gift certificates for healthy food to Flint families through a partnership with the Michigan State University-Hurley Children’s Hospital Pediatric Public Health Initiative. Gores, the owner of the Detroit Pistons and Flint-area native, founded FlintNOW to provide private sector support for short-term relief efforts tied to the Flint water crisis and for long-term programs focused on economic development, nutrition and health care here.
David Mayo: Owner Tom Gores takes his seat. The Pistons are about to be introduced at the Palace for the final time.
The facility, privately financed by Pistons owner Tom Gores and Palace Sports & Entertainment at an expected cost of $50 to $65 million, will include 100,000 square feet of practice and training space for Detroit’s NBA club, which currently practices in a separate facility in Auburn Hills. The Pistons will continue to practice and operate in Auburn Hills during the 2017-18 season.