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Palace of Auburn Hills to close in September

The Palace of Auburn Hills
Kevin Ward / Flickr - http://j.mp/1SPGCl0
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In operation since 1988, the Palace of Auburn Hills has hosted three Pistons championship seasons and hundreds of major music performances.

Another Detroit-area arena will close once the new Little Caesars Arena opens in September.

Palace Sports & Entertainment (PS&E) announced Thursday that a sold-out performance by Bob Seger and the Silver Bullets on September 23 will be the Palace’s final show.

It has been known since November that the Pistons will be joining the Detroit Red Wings at the Little Caesars Arena, and Thursday’s announcement comes after months of speculation about the future of the now former-home of the Detroit Pistons.

The decision was officially finalized last month when the Pistons formally signed the lease arrangement with the Detroit Red Wings. That lease merges PS&E and the Illitch family's Olympia Entertainment.

The Detroit Free Press adds that “the deal stipulated that the Palace may not compete with the new arena for event bookings, according to people familiar with the negotiations.”

The Palace, which opened in 1988, will reportedly be sold and transformed into a high-tech research park.

Little Caesars Arena is scheduled to open on September 12 with a performance by Kid Rock.

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