Detroit Pistons nearing downtown move

April AlvarezNov 25, 2016

Pistons Owner Tom Gores, Detroit mayor Mike Duggan, NBA commissioner Adam Silver and Christopher Ilitch, president and chief executive of Ilitch Holdings Inc, owners of the Red Wings, held a news conference on Tuesday to confirm the relocation, which remains subject to NBA approval.

The Pistons' move is still pending a series of approvals, including from the National Basketball Association, the Downtown Development Authority, and the City of Detroit.

For the first time since 1974, all four of Detroit's major professional sports teams will be downtown.

The event featured many honest thanks and pats on the back from the major players and those doing all the background work.

Gores said it was too early to discuss the future of the Auburn Hills arena, but he expected there to be a lot of attractive options.

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"The incredible memories we have at the Palace, we own those".

"It's going to be a win for everybody", Tellem said. If we can help Detroit revitalize — and it is coming back — that would be great.

"We want to be all in on Detroit", said one Pistons executive quoted by the Detroit Free Press.

The Pistons nearly certainly wouldn't be considering anywhere else in Detroit.

Not all of the financial details of the Pistons' move have been finalized at this point, but some terms have already been reported.

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While it's likely that the vast majority of the upper structure of the Pistons and PS&E will be unchanged by the move, not necessarily so for lower-level employees - ushers, security, food service employees, and so on.

It is possible the DDA will issue taxable bonds of up to $55 million for a Pistons practice facility.

Details are still unfolding at a press conference, but it looks like both teams could begin playing at the arena by the 2017-2018 National Basketball Association and NHL seasons, according to media reports. In that event, the study projects a net increase of $7.3 million per year in new property and personal income taxes and the creation of 1,950 construction and permanent jobs. The seating capacity of LCA will be over 20,000, and the Palace now can hold just over 24,000.

"I think we have to be really mindful of this community in Auburn Hills and their loyalty in showing up", he said. However, when it first opened its doors in 1988, the Isiah Thomas led Bad Boys brought two consecutive championship banners to properly christen the new arena in the 1988-1989 and 1989-1990 National Basketball Association seasons.

The arena is being built beside the I-75 and Woodward Avenue intersection in Detroit's Midtown region and will be mere blocks from where the Detroit Tigers play at Comerica Park and where the Detroit Lions play at Ford Field, which are directly across the street from each other.

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The "Piazza" - an outdoor urban plaza that will be regularly programmed with music and entertainment and serve as a signature new public gathering place in Detroit. As we see it, The Palace could potentially remain viable as an entertainment venue, a sports and entertainment venue if perhaps another team were brought into the arena, or could be demolished and the land redeveloped.

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