Photo by Platinum Equity Arn Tellem becomes vice chairman of Palace Sports & Entertainment in August, and will captain a sweeping new business strategy.
The question of whether the Detroit Pistons will ever play at the new arena being built downtown is the wrong one to ask.
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Instead, the better question is what can the Pistons and their parent company, Auburn Hills-based Palace Sports & Entertainment LLC, do to be a part of the revival of Detroit and to be an impactful business across the entire state.
That’s the message from upper management of Pistons owner Tom Gores’ Platinum Equity, the Beverly Hills, Calif., private equity firm that oversees his business holdings. The question of the Pistons leaving the Palace of Auburn Hills was renewed last week when Gores announced he was hiring super-agent Arn Tellem away from Los Angeles-based Wasserman Sports Group.
Widely praised as a coup for Gores because of Tellem’s reputation as a top-shelf dealmaker, it was announced that Tellem would become PS&E’s vice chairman on Aug. 3. In that role, Tellem’s marching orders are to develop the grand business strategy for Gores not only in metro Detroit, but across Michigan.
Tellem’s mission: Develop ideas on how the Pistons and PS&E can grow locally and statewide, and also be a legitimate factor in Detroit’s rebirth. What that strategy looks like to accomplish that remains to be seen.
It’s Tellem’s job to craft it all. There is no timeframe, Tellem, 61, said. The focus is to “do it right” without artificial deadlines… READ MORE
Crains Detroit, By BILL SHEA
