New York, NY  – The NBA Board of Governors has unanimously approved the sale of the Detroit Pistons to Tom Gores and his investment firm, Platinum Equity. The transaction is expected to close shortly.

“We are delighted that the NBA’s Board of Governors approved Tom Gores’ purchase of majority ownership of the Pistons,” said NBA Commissioner David Stern. “We look forward to the Pistons’ continued growth, both on and off the court, under his leadership.”