Report: Ilitch chosen to buy NBA's Pistons

DETROIT, Oct. 5 (UPI) -- Detroit sports mogul Mike Ilitch has been selected as the new owner of the Detroit Pistons, Crain's Detroit Business reported Tuesday.

The newspaper said Palace Sports and Entertainment was expected to work out a deal in the next 30 days that would add the NBA franchise to Ilitch's portfolio, which currently includes the Detroit Tigers and Red Wings.

There was no immediate comment on the decision from the parties or from the NBA, which would have to approve any sale of the Pistons.

According to Crain's, a final purchase price for the team has not been set; however, majority owner Karen Davidson has said she wanted the deal done by the time the 2010-2011 NBA season begins at the end of November.

Davidson inherited the team after her husband, Bill, died in March 2009.

For Ilitch, adding the Pistons to his holdings would be a significant boost to his idea of building a new downtown arena for the Red Wings, and now potentially the Pistons.