Karen Davidson hopes to sell team soon

Updated: September 24, 2010, 9:12 AM ET
Associated Press

AUBURN HILLS, Mich. -- Detroit Pistons owner Karen Davidson said she's still hopeful a deal to sell the team can be done by the opening game in late October.

Davidson didn't give any more details about the sale while appearing Thursday at a back-to-school event benefiting Oakland County schools. She said there are leading candidates, but didn't say who they are. She said the sale is "progressing very well."

Davidson's husband, Bill Davidson, died last year. The late owner helped the Pistons win NBA titles in 1989, 1990 and 2004.

Palace Sports and Entertainment, the company that runs the Pistons, said last month there had been serious interest from multiple potential buyers. Mike Ilitch, who owns the Detroit Tigers and Detroit Red Wings, said he was interested in buying the Pistons.

Earlier this year, Michael Jordan paid $275 million for the Charlotte Bobcats, and the owner of the Golden State Warriors agreed to sell that franchise for $450 million. But a weak economy and the threat of a work stoppage in the NBA after next season could play a role in how much a sale of the Pistons can bring.

Ilitch, who founded the Little Caesars chain with his wife, also owns a number of Detroit entertainment venues.


Copyright 2010 by The Associated Press