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Pistons

Davidson To Keep Part Ownership In Pistons, Palace

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(Photo by Jesse D. Garrabrant/NBAE via Getty Images)

(Photo by Jesse D. Garrabrant/NBAE via Getty Images)

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AUBURN HILLS, Mich. (AP) – Current Detroit Pistons owner Karen Davidson says she’ll retain part ownership of the NBA franchise, its arena and Palace Sports & Entertainment after the sale to Beverly Hills, Calif., billionaire Tom Gores is complete.

The Detroit News and Detroit Free Press report Wednesday that Davidson won’t say how big a minority stake she’ll keep or if stepson Ethan Davidson will keep a piece, too.

The Associated Press left messages Wednesday seeking comment from lawyers involved in the deal.

Gores and Davidson reached an agreement last month on the sale, which hasn’t closed and needs NBA approval.

Gores is a Flint native and chief executive of Platinum Equity.

Karen Davidson took ownership of the team, the Palace and its entertainment arm following the 2009 death of her husband, Bill Davidson.

Copyright 2011 by STATS LLC and The Associated Press. Any commercial use or distribution without the express written consent of STATS LLC and The Associated Press is strictly prohibited.

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