The Detroit Pistons ownership crisis may be coming to an end.
Karen Davidson, the widow of former owner William Davidson has hired Citi Private Bank Sports Advisory to advise the sale of the team to a new owner.
The Pistons have been in limbo ever since Davidson's death in 2009. Karen Davidson has made no secret about her desire to sell the team, and this is the first official step toward doing so.
There are no known front runners for buying the team as of right now, but there has been plenty of speculation. At the top of the list is current Red Wings and Tigers owner Mike Ilitch, who also owns the Little Caesars Pizza chain. With the Red Wings looking for a new arena, Ilitch may be interested in buying the Pistons and building a new arena for both teams.
Other rumored suitors have included Compuware CEO Peter Karmanos, who also owns the Carolina Hurricanes, and Cleveland Cavaliers owner Dan Gilbert.