STATEMENT REGARDING TODAY’S ANNOUNCEMENT OF THE SALE OF THE DETROIT PISTONS AND PALACE SPORTS & ENTERTAINMENT

The following statement is attributable to Michael Ilitch, chairman of Ilitch Holdings, Inc. and owner, Detroit Red Wings and Detroit Tigers:


“I would like to congratulate Tom Gores on the announcement of his agreement to purchase the Detroit Pistons and Palace Sports & Entertainment and the Davidson family on the pending sale of their businesses. We are very pleased that the Pistons will continue to call the Detroit area home. Even though we were only engaged in the sale process for a short period of time last year, I was truly amazed by all of the kind words and tremendous support we received from fans and the entire community. We are extremely fortunate to be part of one of the greatest sports towns in the world.”