New Pistons exec Tellem plans to become part-owner of team
On the heels of the announcement that Detroit Pistons owner Tom Gores will assume complete ownership of the team, newly-hired former super agent Arn Tellem will look to purchase his own ownership stake in the franchise, reports Detroit Free Press' Tom Walsh.
Tellem, 61, was hired as vice chairman of Palace Sports and Entertainment - the company that owns the ball club - in June.
He stated that acquire a stake in the team itself was expected when he took the job.
"That was part of the plan when I came in," Tellem said. "My hope is now that by the end of the year, we're going to hopefully have a piece of the action."
With his new duties including cultivating sponsorship deals, negotiating TV deals and coordinating community relations events, Tellem, along with Gores, is committed to maintaining The Palace of Auburn Hills as the Pistons' home arena instead of moving the team to a more central location in Detroit.
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Tellem had a 30-year career as a sports agent with Wasserman Media Group, where he represented many NBA stars, including Anthony Davis, LaMarcus Aldridge, and Al Horford. Now, Tellem joins Pistons' head coach and president of basketball operations Stan Van Gundy and general manager Jeff Bower as one of the key decision-makers in the organization.