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Tom Wilson no longer is CEO of Palace Sports and Entertainment, according to a report

Wilson, who was president of the Pistons for 15 years and president of Palace Sports & Entertainment for 18 years, will be replaced by COO Alan Ostfield, according to the report.

Wilson’s resignation comes in the wake of Pistons owner Karen Davison’s decision to sell the team. Davidson said Jan. 20 that she was pursuing the possibility of selling the franchise.

“I’m pleased… that the limited partners concur in my decision into inquiring about selling the team,” Davidson said in a statement at the time.

Davidson assumed control of the franchise after the March 13, 2009, death of her husband, Bill.

He purchased the Pistons for $8 million in 1974. Forbes places its value at $479 million, fourth-highest in the NBA

Karen Davidson suggested at halftime of the Pistons-Celtics game at the Palace on Jan. 20 that she didn’t share her late husband’s passion for owning the team.

“You always want a real engaged, enthusiastic owner,” she said. “I think that’s just the primary concern.”

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