Detroit Pistons Continue To Re-Shape Business Model After Historic Sale Of Franchise
DETROIT – The Detroit Pistons continue to make a transition after the sale of the historic sale of the franchise to private equity Billionaire Tom Gores, who bought the Detroit Pistons and its affiliate businesses in (June of 2012) for $325 million.
The Detroit Pistons made keys move’s in management and player personnel with the promotion of George David to assistant general manager and the signing of free-agent guard Rodney Stuckey, who agreed to a 3-year, $25 million deal in 2012.
The Detroit Piston’s announced on August 21st 2012, that they are in talks with unnamed companies vying to become the team’s next presenting sponsor to replace PNC Bank.
In June of 2011, PNC Bank signed a one-year deal with the Detroit Pistons to become their presenting sponsor for the 2011-12 regular NBA season and playoffs. When that current deal ends on October 30th of 2012, the bank has opted not to renew its deal with the National Basketball Association franchise.
PNC Bank “will remain partners with the team as a suite holder and significant courtside ticket holders,” Jeff Corey, the team’s VP of public relations said.
PNC Bank announced the signing of a seven-figure, 3-year deal to become the official bank of the University of Michigan’s athletic department in Ann Arbor, Michigan.
“We continue to speak with numerous companies regarding corporate partner opportunities at all levels for the upcoming season and will pass along any announcements at an appropriate time,” Jeff Corey, the team’s VP of public relations said.
PNC Bank offer’s it’s consumer’s a wide range of services and is the 6th-largest bank by deposits in the U.S. and reported $14.3 billion in revenue through (Q1, Q2,Q3 and Q4) 2011 and is part of Pittsburgh-based PNC Financial Services Group Inc.
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