Mike Ilitch looking to expand
DETROIT -- Tigers and Red Wings owner Mike Ilitch says he wants to buy a third major professional Detroit sports franchise--the NBA's Detroit Pistons.
Ilitch said in a statement Monday he is interested in purchasing the basketball team in part because he fears the area could lose it if an out-of-town buyer comes forward. Ilitch says he notified the Pistons on Monday.
The Pistons announced in June that Citi Private Bank's Sports Finance and Advisory team was assisting in the potential sale of the team.
Owner Karen Davidson has said she's considering a sale of the franchise by itself or as part of a package with Palace Sports and Entertainment, which includes The Palace of Auburn Hills, DTE Energy Music Theatre, and Meadow Brook Music Festival.
Her husband, Bill Davidson, died last year.
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