George Postolos met with the Pistons on Wednesday about buying the franchise, according to Vince Ellis of the Detroit Free Press. Ellis:
Postolos, a former special assistant to league commissioner David Stern, is currently president and CEO of The Postolos Group LP, a company that helps with the acquisition of sports franchises.
This won’t be the first time he has tried to purchase a franchise. He also tried to buy the Charlotte Bobcats, who recently were purchased by Michael Jordan.
Postolos also served as the Houston Rockets’ president and CEO.
Conveniently, Henry Abbott of TrueHoop interviewed Postolos in May. Give it a read. Postolos sounds very smart about the business of owning a professional basketball team.
My gut reaction is I’d be happy with him as the Pistons’ owner. Check out this excerpt from an article by Peter St. Onge of The Charlotte Observer:
When George Postolos took over as president of the NBA’s Houston Rockets in 1998, his city was beginning to be worn out on his basketball team. The owner, based in far-away Florida, was complaining about his arena lease. Relationships in the business community were fractured. Fans, smarting from the loss of their NFL team the year before, braced for another heartbreak.
By the time Postolos left the Rockets in 2006, he had changed the franchise inside and out, mended the team’s rifts with the community, and come away from it all in a most uncommon way – as someone almost universally well-liked.
“There are not a lot of sports executives that get as good of a response as George does,” says Bob Lanier, the popular former mayor of Houston.
If only that were the same Bob Lanier, this would be a perfect match.
But in his interview with Abbott, Postolos also talks about buying a franchise only at the right price. Unless Karen Davidson is willing to cut a deal, Postolos might not be a likely buyer.