Ilitch throws hat in ring to buy Pistons

Other shoe: dropped.

Sports and pizza boss Michael Ilitch said today he wants to buy the Detroit Pistons and move the team to a new arena in downtown Detroit.

The Ilitch family already owns the Detroit Tigers and the Detroit Red Wings.

The Ilitch bid is for the entire Palace Sports & Entertainment organization, not just for the basketball team itself. If successful, that means that the Ilitches would also own the Palace of Auburn Hills arena, the DTE Energy Music Theatre and other aspects of the Palace network.

You’ll recall that the big question about this plan, which was originally floated about a month ago, was whether giving monopoly control over sports and concerts in the Detroit area would really generate enough money to pay for a new Detroit arena. Still nothing on that in today’s coverage, though enough column-inches were spilled on it that there was room for worries that Bud Selig might thing Ilitch doesn’t love him anymore.