Chris Miliam, CEO of International Development Management, is heading up a group of investors that is working on purchasing an NBA team and moving the franchise to Las Vegas. The biggest piece of the puzzle seems to be convincing the Clark County taxpayers to finance an NBA arena on the Las Vegas Strip.
“We have an NBA team under contract. [The deal will happen if] other pieces of the puzzle fall into place: One of those pieces will be that a building (arena) is approved.”
While Miliam declines to mention a franchise, rumors have been flying that the Pistons may be the team in question. Owner Karen Davidson has repeatedly expressed interest in selling the franchise, though has promised to keep the team in the D. Still, if the price is right there’s no telling what Bill Davidson’s widow will do.
Now before you completely lose your shit over this, keep a few things in mind. First, the NBA has denied that one of its teams is “under contract” to move to Vegas. While it’s still a possibility that a move could be in the works, it’s not a done deal just yet.
Second, the Pistons are one of the most popular and profitable teams in the NBA. They led the league in attendance in both 2008 and 2009, and were still 8th in attendance last season despite the team’s abysmal record. Allowing one of its most successful and profitable franchises to move on a whim would be suicide for the league.
Finally, Mandalay Entertainment CEO Peter Gruber, along with parter Joe Lacob, just bought the Golden State Warriors for $450 million. While no further plans have been announced, making the short jump from the Bay Area to Las Vegas is a definite possibility.
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