DETROIT (CelebrityAccess MediaWire) — The rumor mill is placing the Ilitch clan at the head of a consortium of investors who are interested in acquiring the Detroit Pistons.
According to an article in Crain's Detroit Business, the consortium is led by Mike and Marian Ilitch, founders of the Little Caesar's Pizza chain and owners of the Detroit Tigers and the Detroit Red Wings. Also rumored to be involved in the consortium is Sam Simon, president of Atlas Oil.
"I can't comment on that. I can't confirm or deny it," Simon told Crane's, but went on to note "I'm a huge Pistons fan. They need a person who has passion and the drive. They're missing an owner."
Included in the deal may be Auburn-based Palace Sports & Entertainment (PS&E), who manage the team as well as owning The Palace of Auburn Hills, DTE Energy Music Theatre and hold the contract to manage Meadow Brook Music Festival for Oakland University.
The acquisition would also likely help to settle an ongoing legal dispute between the Ilitch-owned Olympia Entertainment and PS&E, whom Olympia accused of poaching employees and illicitly obtaining confidential corporate documents. – CelebrityAccess Staff Writers