Pistons owner Tom Gores purchases stake in NFL team
Jul 30, 2021; Detroit, Michigan, USA; Detroit Pistons owner Tom Gores answers questions from reporters Friday, July 30, 2021. Mandatory credit: Kirthmon F. Dozier/Detroit Free Press via USA TODAY NETWORK
Detroit Pistons owner Tom Gores is investing in the NFL.
Gores has finalized a deal to purchase a 27 percent share in the Los Angeles Chargers, according to Mike Florio of Pro Football Talk. Gores will have no influence over how the team is run, and is essentially buying out the share of controlling owner Dean Spanos’ sister, Dea Spanos Berberian.
The price Gores is paying for the share is unknown. With the current franchise sale record being over $6 billion for the Washington Commanders, one could safely assume that Gores is paying well over $1 billion for his share of the Chargers.
Gores made his money in private equity, so this is clearly an investment on his part. His efforts to turn the Pistons around have been unsuccessful, and he is not terribly popular with fans, so he probably will not be too upset to be excluded from day-to-day operations.
