Report: The Palace Of Auburn Hills Looks To Sell Naming Rights
AUBURN HILLS (CBS Detroit) -- When The Palace of Auburn Hills opened in 1988, it was one of the most pristine and cutting-edge sporting facilities in the country. It stayed that was for many years, in a different way -- it remained one of few sports venues which had not sold naming rights to an outside entity.
That looks to be changing now.
According to Carol Cain of the Detroit Free Press, owner Tom Gores will look to rename the arena in the near future in what could be a very large deal.
"After spending more than $40 million in upgrades at the Palace, which includes a new scoreboard and renovations of suites, the 26-year-old facility is now in search of its first naming-rights sponsor.
It's a deal that would likely reap millions."
The only other arena in the NBA that has not yet sold naming rights is the New York Knicks' Madison Square Garden. Gores bought the Pistons from Karen Davidson, widow of the late Bill Davidson, in 2011 for $325 million.
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