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Palace Sports & Entertainment

Entertainment · Private Transaction · Acquired in June 2011

Hosts, produces, and manages premier sporting and entertainment events in Michigan. Assets include the Detroit Pistons NBA team, The Palace of Auburn Hills, and DTE Energy Music Theatre.

Palace Sports & Entertainment, a Platinum Equity portfolio company
The Palace of Auburn Hills, home of the Detroit Pistons, is listed as the eighth best-selling US arena in Pollstar's Top 100 Worldwide Arena Venues list. In addition to the Pistons, it is known for its numerous concerts, sporting events, and special events.

KEY FACTS:

  • PS&E comprises several components, including: The Detroit Pistons NBA team, The Palace of Auburn Hills arena, DTE Energy Music Theatre, the Meadow Brook Music Festival, and Meteor Printing
  • The Pistons formed in 1941 and are one of eight original NBA franchises. The team moved to Detroit in 1957 and earned its place as one of the city's most prized assets
  • The Pistons' home arena, The Palace of Auburn Hills (capacity 24,276) opened in 1988. It has the largest capacity in the NBA, includes 180 luxury suites, and is also used for large concerts
  • In April 2011, The Palace was listed as the second highest-selling arena in the U.S. and fourth in the world (Pollstar Q1 ticket sales)
  • DTE Energy Music Theatre in Clarkston, Michigan (capacity 15,274) consistently ranks among the top-selling outdoor concert venues in the nation (Billboard, Pollstar)
  • Meadow Brook Music Festival (capacity 7,701) is managed by PS&E and comprises 40-50 events each summer on the Oakland University campus
  • In 2010, PS&E was listed among only nine U.S. promoters with more than one million tickets sold (Pollstar)
  • Meteor Printing, which supports PS&E as well as commercial customers, is a full-service graphics and digital imaging company with facilities in Michigan and Georgia

NEWS:

“We look forward to the Pistons’ continued growth, both on and off the court, under [Tom Gores'] leadership.” —David Stern, Commissioner, National Basketball Association
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