Background:
Although born outside of the United States, Ilitch grew up in Detroit. He attended Cooley High School, where he excelled in baseball. So much so that, after a stint in the Marines during the Korean War, Ilitch was offered a spot on the Detroit Tigers Farm Team. A broken leg, however, ended his baseball career after only three years.
Industry: Pizza:
During his baseball years, Ilitch made pizzas in the backroom of a night club to earn extra money. Eventually, Ilitch and his wife, Marian, opened up their own pizzeria in a strip mall in Garden City. The original Little Caesars Pizza opened in 1959 and was named for the nick name given to Ilitch by his wife. The success of the Little Caesars franchise eventually catapulted Ilitch to millionaire and then billionaire status.
Experience with Professional Sports Teams:
In 1982, Ilitch was wealthy enough to bid on the Detroit Tigers. Unfortunately for him, he was outbid by Tom Monaghan of Domino’s Pizza fame. Ilitch did, however, buy the Detroit Red Wings hockey team for $8 million. He completely turned the team around by installing good management, pumping money into the team, and trying new marketing techniques. He was eventually able to buy the Detroit Tigers in 1992.
Ilitch has owned several other sports teams over the years, including the Detroit Drive of the Arena Football League; the Adirondack Red Wings of the American Hockey League; and the Detroit Rockers, a professional soccer team.
Michigan Ties:
In addition to owning Little Caesars, a national chain with headquarters in Detroit, Ilitch owns two of Detroit’s four professional sports teams: the Detroit Red Wings and Detroit Tigers. He also owns several entertainment venues in downtown Detroit. In fact, the Ilitch family has a long history of promoting Detroit and has spent millions toward revitalizing the city's downtown.
Pros:
- Ilitch has extensive Detroit ties and a demonstrated commitment to downtown Detroit. In fact, if he buys the Pistons, he might bring the team back downtown.
- Ilitch has experience owning professional sports team.
- Ownership of the Pistons would give Ilitch additional leverage in negotiating TV coverage and sponsorship for all three professional sports teams: Red Wings, Tigers and Pistons.
- Ilitch is a billionaire with deep pockets -- he is just a little lower on the list than Tom Gores as one of the nation’s wealthiest Americans.
Cons:
Ilitch already owns two of Detroit’s four professional sports teams. If he was to purchase the Palace Sports & Entertainment Company, he would not only gain ownership of the Pistons, but ownership and/or operational control of the The Palace of Auburn Hills, DTE Energy Music Theatre and Meadow Brook Music Festival. Coupled with Ilitch’s Olympia Entertainment, this would give him unprecedented control over the majority of Metro Detroit’s professional sports and entertainment venues.
Notes and Quotes:
- Ilitch has referred to himself as a "fan with an owner’s pocketbook.”
- There was speculation earlier in the year that Ilitch might be interested in buying the Palace of Auburn Hills, the arena in which the Pistons play, rather than the team itself. The Palace would provide a temporary location for the Red Wings to play while the hockey team’s new home is built in the city.
