Bingham McCutchen Aids Gores In Detroits Pistons Buy

Law360, New York (April 8, 2011, 7:54 PM EDT) -- California billionaire and Platinum Equity CEO Tom Gores said Friday he had struck a deal to buy the NBA's Detroit Pistons, the team's home arena, a music venue and the operating rights to the Meadow Brook Music Festival.

Gores and his investment firm said they had reached a definitive agreement with Karen Davidson to purchase Detroit Pistons Basketball Co. and Palace Sports and Entertainment, but did not reveal terms of the agreement.

The deal, which awaits approval by the NBA's Board of Governors and normal closing...
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