© 2021 MICHIGAN RADIO
91.7 Ann Arbor/Detroit 91.3 Port Huron 104.1 Grand Rapids 91.1 Flint
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Sports
On this page you'll find all of our stories on the city of Detroit.Suggest a story here and follow our podcast here.

The Abu Dhabi Pistons? Middle Eastern investors are eying Detroit's NBA team

According to Forbes, the Detroit Pistons bring in $154 million in revenue
Kevin Ward
/
http://j.mp/1SPGCl0
The NBA's Detroit Pistons are up for sale

There's been a lot of talk about who might buy the Detroit Pistons.   Several people with close ties to Detroit have been said to be considering paying as much as a half billion dollars for the NBA franchise.   But there's word now that Middle Eastern investors may be in the mix.

Here's the story from The National of Abu Dhabi:

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 US$500 million (Dh1.83 billion). Negotiations are "ongoing" for a potential Middle East buyout of the franchise, said David Stern, the commissioner of the National Basketball Association (NBA). "The interest and discussions have taken place in reference to Dubai, Abu Dhabi and Qatar. There is more than one discussion," Mr Stern said. "That is a team that has been, and is having negotiations with different potential investors," he added, declining to name the parties involved. Mikhail Prokhorov, the Russian billionaire, recently bought the New Jersey Nets franchise, marking the first foreign ownership of an NBA team. This purchase "ignited and catalysed" foreign interest in ownership of the teams, said Mr Stern. "We are either in direct or indirect discussions with at least three buyers in the Middle East over their interest in acquiring NBA franchises," he said. "We are mindful that of the 20 teams in [English Premier League football], 10 are owned by investors outside the UK." The NBA is also considering the UAE as one of several possible locations for the formation of its Middle East headquarters.