December 02, 2010
Well, he and team owner Karen Davidson couldn't agree on financing and price, and now she may be selling the team to an investment group in the Middle East, according to the National.
Investment groups in Abu Dhabi, Dubai and Qatar are in separate discussions to buy the Detroit Pistons basketball team, which has been valued at close to $500 million, the National reports.
NBA commissioner David Stern says the negotiations are "ongoing," the publication reports: "The interest and discussions have taken place in reference to Dubai, Abu Dhabi and Qatar. There is more than one discussion," Stern said.
If the deal comes to fruition, it would be the second international owner of an NBA team, joining Russian kazillionaire Mikhail Prokhorov, who owns the New Jersey Nets.