FanShot

Tom Gores paid a bargain price for Pistons

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The linked "bid book" was prepared by Bank of America, which conducted the recent sale of the Clippers. According to BoA, Gores spent $325M to acquire 90% of the Pistons, the Palace, and DTE Energy Theater. The "team only" price (excluding other PSE assets) was $217M. Relative to the team's total annual revenue (an important metric for franchise valuation), this was the lowest price paid for a NBA team since 2000, when Stan Kroenke bought the Nuggets for $175M.