Platinum Equity
Mergers. Acquisitions. Operations.
 

Mergers. Acquisitions. Operations.

Pistons 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, the live entertainment company 313 Presents, the Henry Ford Detroit Pistons Performance Center and a G-League franchise, the Motor City Cruise.

Detroit Pistons, Tom Gores, Ownership 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:

  • After making the investment in June 2011, Platinum Equity founder and CEO Tom Gores said: “This is a community asset. If all I do is make a few bucks and the community isn’t happy, that’s not good. Winning brings folks in so we have to figure out how to win, how to compete. I know this city needs that.”
  • PS&E comprises several assets, which includes: The Detroit Pistons, the Henry Ford Detroit Pistons Performance Center and the G-League’s Motor City Cruise, which will start playing in time for the 2021-22 season.
  • After nearly 30 years based in Auburn Hills, the Pistons returned to downtown Detroit before the 2017-18 season.
  • Another asset, 313 Presents, is a joint partnership formed in 2017 with Olympia Entertainment. The venture produces concerts, theatrical productions, sporting events and family-themed shows at six world class venues: Little Caesars Arena, the Fox Theatre, Comerica Park, DTE Energy Music Theatre, Meadow Brook Amphitheatre and Michigan Lottery Amphitheatre.
  • The Pistons were founded in 1941 and are one of eight original NBA franchises. The team moved to Detroit in 1957 and has won three NBA titles (1989, 1989, 2004).

NEWS:

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