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Wiggles Confirmed - Gores is New Owner of Pistons

Discussion in 'Pistons and NBA' started by armygirl, Feb 11, 2011.

  1. BallDon'tLie

    BallDon'tLie All-Star 3x Fantasy Champion

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    On paper and in a court room you might be right but his head-tilt is now "the face" of Piston ownership. If folks don't like what's goin on they're not gonna blame "Platinum Equity". They're gonna egg Tom's car and throw mustard on one of his five-button polos.
     
  2. Walter

    Walter All-Star Forum Donor

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    Platinum Equity is a privately owned company founded by Tom Gores. The firm has partners and principles. Granted that the team will be owned by the company. But I would be very surprised if Gores doesn't have a controlling interest in the company itself. This means that he can do whatever he wants. The fate of the team isn't going to be decided in a board meeting.

    Besides, look at the bigger picture. PE plays with real money. The Pistons organization is really peanuts compared to the stuff that they do to make money. Their latest acquisition was American Commercial Lines for $777 million. According to this site, since 1995 PE has completed over 100 acquisitions with more than $27.5 billion in aggregate annual revenue. Read that again, REVENUE and not the actual value.

    Compared to the real business those guys are doing, this Pistons deal is really nothing but a "cute" acquisition.

    Regardless of what the name is on the paper, this is going to be Gores' hobby. So, relax guys.
     
  3. TaS

    TaS All-Star Forum Donor

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    Why didn't he just buy it personally?
     
  4. Walter

    Walter All-Star Forum Donor

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    I don't know. Nobody knows. He certainly has the money apparently. Maybe it's a tax thing. Maybe PE can use this as a write-off or something. Who knows.
     
  5. TheeTFD

    TheeTFD All-Star

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    GD-it, I knew you would say that. Tax write-off means "loss coverage", means no profit, means lose money, means team sucks.
    We need to fix this now.
     
  6. round

    round All-Star 1x Fantasy Champion

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    or could mean he plans to spend allot of money and this way he can right it off against the profit of the rest of his companies...

    Guys lets not assume the end of the world till we actually have some actual facts to base things on.
     
  7. del

    del Team Captain Forum Donor

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    Actually, a willingness to run the organisation at a loss would probably translate to Gores/PE spending extra money on the players, team & facilities - which can only be a good thing in my mind.
     
  8. brofmfa

    brofmfa Bench Warmer Forum Donor

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    Gotta agree with you, but, there will be no fun on media at all. :)
     
  9. roscoe36

    roscoe36 All-Star Administrator

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    Successful business people don't run things at a loss that eat into their other profit centres.

    Gores is not the owner, his company is, and there are other shareholders to answer to. The purpose of a firm is to deliver a ROI to the shareholders.
     
  10. Nemo

    Nemo Fantasy-Football Snub Forum Donor

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    Gotta believe that the shareholders want the Larry O'Brien Trophy versus just some profit dollars. I guess they're no better than most players...
     
  11. BallDon'tLie

    BallDon'tLie All-Star 3x Fantasy Champion

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    If that's the case, I gotta believe that PE has a strategy for getting the Pistons back to the point where they were one of the most profitable teams in the league. At that point in time, they also happened to be one of the most successful teams in the league from a win/loss standpoint.
     
  12. Whitepine

    Whitepine First Round Draft Pick Forum Donor

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  13. dba

    dba All-Star Moderator 1x Fantasy Champion Forum Donor

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  14. Nemo

    Nemo Fantasy-Football Snub Forum Donor

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    The Free Press starts out by stating, "Here are the facts".

    One has to figure then that Gores is the principal owner, with PI and Comerica having a small investment. Most teams actually have this type of set up...
     
  15. TheeTFD

    TheeTFD All-Star

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    OK thanks guys, I thought I was going to need to confront Tom about using the Pistons as a loss-leader for PI.
    We got a price yet ?
     
  16. dba

    dba All-Star Moderator 1x Fantasy Champion Forum Donor

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    Whew. I'm just glad we got to you before you rented the '63 Belair, packed the trunk with beer, and stopped in the gun section at Bass Pro on your way to LA.
     
  17. Walter

    Walter All-Star Forum Donor

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    There are no shareholders. PE is a privately owned company.
     
  18. Walter

    Walter All-Star Forum Donor

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    This is the key point:

    So, even though PE has partners, Gores has a controlling interest, which means he listens to everybody's opinions and then does whatever he wants.

    Anyways, it's all moot at this point I guess.
     
  19. Ernie the Slow Adult

    Ernie the Slow Adult All-Star Forum Donor

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    Don't think I don't notice everyone trying to take shots at Tommy Gores.

    I also think TaShawn's avatar is disrespectful and blasphemous towards our new owner.

    That is all.
     
  20. linwood

    linwood All-Star

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    :pound::pound::pound::pound:

    Solid Gold!
     

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