In the last 24 hours, there have been a number of conflicting reports about whether or not Tom Gores has reached an agreement with Karen Davidson to buy the Detroit Pistons. Some reports stated that a deal was already done, others said that a deal was close to being finished and a couple stories were adamant that nothing was done yet.
Based on the statement Davidson released this afternoon, it appears those reporting that nothing is done yet are correct. Here is the one-sentence statement she put out today:
"The parties are continuing to work in a cooperative manner and have agreed to a new 14-day exclusivity period."
Gores received a 30-day exclusivity period in the first week of January. With the 30 days up, this new 14-day period will allow Gores and Davidson to continuing their negotiations about the Pistons, The Palace and the rest of Palace Sports & Entertainment.
While it's clear right now that nothing is done just yet, the fact that Gores' exclusivity period was extended is a good sign. It seems a deal could be agreed to at any time, and it's possible they're just ironing out the small details right now. Whatever the case, all signs still point to Gores eventually becoming the Pistons' new owner.