Detroit Pistons owner Tom Gores is expanding his professional sports portfolio after agreeing to purchase a 27% stake in the Los Angeles Chargers of the NFL. Gores, a Flint native who lives in California, will purchase his stake in the franchise outright as opposed to financing through his private equity firm Platinum Equity as he did when he purchased the Pistons in 2011.
It seems like it’s never a bad time to be in the NFL ownership business, as the value of franchises continues to skyrocket, but what is notable about Gores’ purchase really has nothing to do with Gores.