Tom Gores was the primary stake holder of the Detroit Pistons at 51 percent.
Now he owns 100 percent.
Via Brian Manzullo, Detroit Free Press:
Gores has bought the remaining 49% from his firm, Platinum Equity, according to firm partner Mark Barnhill.
Though this won’t change anything from a control standpoint – Gores, the founder, chairman and CEO of Platinum Equity, has had full control of the Pistons’ operation since becoming majority owner in 2011, Barnhill said in an email to the Free Press – this transaction gives Gores 100% of the equity, which is important for his long-term commitment to the franchise.