The sale of the Detroit Pistons to Tom Gores was unanimously approved by the National Basketball Association’s board of governors.
“We look forward to the Pistons’ continued growth, both on and off the court,” NBA Commissioner David Stern said in an e-mailed statement from the league.
The purchase includes the Pistons, the Palace of Auburn Hills and DTE Energy Music Theatre.
The 46-year-old Gores is a natove of Flint, Michigan, and Michigan State University graduate. He is the founder and chairman of Platinum Equity, a Beverly Hills, California-based private equity company that owns 34 companies in industries including technology, industrials and automotive supply.