The Detroit Free Press is reporting that the sale of the Detroit Pistons to Tom Gores is likely to be closed by the end of the month. Soon-to-be former owner Karen Davidson is hoping that everything will be finalized in the next couple of weeks, allowing Gores to take over the franchise and Palace Sports & Entertainment.
Although Davidson is selling the team, she will retain a minority interest.
In her first significant interviews since deciding to sell the team, the Palace and Palace Sports & Entertainment, and eventually choosing the billionaire financier Tom Gores and his private equity firm as the next owner, Davidson said Wednesday she would still own part of the operation and she intends to be in attendance at games.
"But I have seven grandchildren and another one on the way," she said, laughing. "That is where I'll be moving to be now — with my grandchildren.
"I still fully intend to come to games and I always will be a Pistons fan," Davidson said.
Terms of the deal still have not officially been released.