The Detroit Pistons are nearing an agreement to relocate to a different home arena, according to multiple reports.
The Pistons choosing to switch arenas is a topic that’s been rumored since owner Tom Gores purchased the team back in 2011, but only now did talks become truly serious.
According to Bill Shea of Crain’s Detroit Business, a deal could be finalized within the coming days.
Official word that the Detroit Pistons will move to downtown Detroit for the 2017-18 season could come within days, if final details can be worked out, sources close to the discussions said.
Talks have continued this week between the Pistons’ ownership and Olympia Entertainment on moving the basketball team as it prepares to open its upcoming home season on Friday.
There is no formal timetable for an announcement at this point. No final agreement has been reached, and the talks could still fall through, sources say. Potential additional deals involving the entertainment and broadcast rights portions of their respective businesses are expected to take longer.
While Shea, citing sources, reports a deal could come sooner than expected, Vincent Ellis of the Detroit Free Press isn’t as confident:
The Pistons could move in time for next season, the source said. But the deal isn’t quite at the finish line.
The sides are researching what it would take to modify the still-under-construction Little Caesars Arena, which is being built for the Ilitch-owned Detroit Red Wings, to accommodate the requirements of an NBA team.
The Pistons also are considering potential downtown locations for business offices and a multimillion-dollar practice facility.
At the most senior level, Gores and Chris Ilitch, president and CEO of Ilitch Holdings, have directed their executive teams to work on a framework agreement that would permit the move, subject to approval by the NBA and city officials, the source said.
The two sides spent most of the summer working through details. The discussions have triggered speculation that an announcement could be imminent. But the person with knowledge of the negotiations cautioned that there is still a lot of work to do. A detailed agreement — if it can be reached — could be weeks away, the source said.
Detroit currently plays its home games inside The Palace of Auburn Hills, which has been their home for 28 years — Or since 1988. The historic building has been through a lot since the Pistons moved in, including three NBA championship teams and one of the most memorable brawls in league history back in 2004.
The Pistons are finally edging closer to departing from the iconic Palace, with ownership eager to join the Red Wings inside of Little Caesars Arena as soon as possible.
