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Citi to advise Pistons sale

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Citi Private Bank Sports Advisory (Citi), has been engaged as financial advisor in connection with the sale of Palace Sports & Entertainment, Inc., and the Detroit Pistons Basketball Company. The National Basketball Association has been informed of the engagement and that Citi is in contact with a number of interested parties. Given the confidential nature and unpredictable timeframe of any negotiations, neither the owners nor the management of The Palace and the Pistons will be commenting further on this process until there is substantive news to report.