Report: Isiah Thomas to become Pistons minority owner

Friday May 16th, 2014

(D. Lippitt/Einstein, Getty Images) Ex-NBA guard Isiah Thomas is the Pistons career leader in points, assists and steals. (D. Lippitt/Einstein, Getty Images)

Former Detroit Pistons guard and NBA Hall of Famer Isiah Thomas is set to become an investor in the team's ownership group, according to a report from Vincent Goodwill of The Detroit News.

According to the report, discussions between Thomas and team began when team president Joe Dumars stepped down. Team owner Tom Gores wants Thomas to be part of the team in some capacity.

Thomas played for the Pistons from 1981-1994 and helped the team win two NBA championships. He has since been a coach of the Indiana Pacers and New York Knicks, the general manager of the Knicks, and a television analyst. He also coached Florida International University for two seasons.

More from the Detroit News:

Thomas and team officials are in preliminary discussions to make Thomas a minority owner, but the exact percentage hasn’t been agreed upon. It would make Thomas one of a few African-Americans with a stake in an NBA team.

“Not a ceremonial piece, but a respectable piece,” was how a source with knowledge of the negotiations termed the potential deal.

The two became familiar during preparations for the Bad Boys reunion last month, and Gores expressed to Thomas he knew the former point guard wanted a seat of power — one Thomas hadn’t had since he was a part-owner of the Raptors.

MAHONEY: Pistons hire Stan Van Gundy as coach, president

SI Apps
We've Got Apps Too
Get expert analysis, unrivaled access, and the award-winning storytelling only SI can provide - from Peter King, Tom Verducci, Lee Jenkins, Seth Davis, and more - delivered straight to you, along with up-to-the-minute news and live scores.