• Scam Diego alerts

Beverly Hills-based Tom Gores, whose Platinum Equity private equity company owns the Union-Tribune, is on the acquisition trail in uncharacteristic areas. Platinum Equity and the Gores Group, a private equity group run by Tom's brother Alec, purchased Alliance Entertainment this month. It's the largest wholesale distributor of CD, DVD and videogame titles. It has problems -- just the kind of company Tom Gores covets. There are rumors that Tom Gores (not necessarily Platinum Equity) may bid to buy the Detroit Pistons of the National Basketball Association. In competition would be a local sports mogul and an investment group from Dubai, possibly among others. Forbes Magazine says the Pistons are worth $479 million, but analysts think the sale may go through for $100 million to $125 million less than that.

  • Scam Diego alerts

Comments

SurfPuppy619 Sept. 16, 2010 @ 10:17 p.m.

Forbes Magazine says the Pistons are worth $479 million, but analysts think the sale may go through for $100 million to $125 million less than that.

$350-$375 million seems like a low ball price for an NBA franchise. I wonder if it will sell that LOW..

0

Don Bauder Sept. 19, 2010 @ 8:33 p.m.

Response to post #1: The Detroit Pistons are doing better than the Detroit metro area. But the economic collapse of its market has to be a concern for any sports team. Best, Don Bauder

0

David Dodd Sept. 19, 2010 @ 10:14 p.m.

Re #1 & #2: The Detroit Pistons finished with a record of 27-55, last in the Central Division. It is difficult to see much of an upside to buying that franchise unless it can be done at a bargain.

0

Don Bauder Sept. 20, 2010 @ 11:59 a.m.

Response to post #3: Remember, Gores got the U-T for half the value of the real estate. As he has said publicly, he doesn't have a big investment in it. He would probably have to pay 7-9 times more for Pistons than he paid for U-T. Best, Don Bauder

0

Don Bauder Sept. 20, 2010 @ 12:01 p.m.

Response to post #4: He doesn't buy anything unless he gets it for a real bargain. Best, Don Bauder

0

Sign in to comment