Tom Gores (File photo)
Billionaire Detroit Pistons owner Tom Gores is trying to expand his portfolio in a big way.
Through his California-based Platinum Equity LLC, he is reportedly part of an investment group offering to pay $10 billion for Fox Sports Detroit and its 21 sister regional sports networks, Bill Shea of Crain's Detroit Business reports:
Gores along with Minnesota Twins owner Jim Pohlad and Colorado-based Liberty Media are seeking to buy the sports networks that are up for sale as part of The Walt Disney Co.'s $71.3 billion acquisition of 21st Century Fox's entertainment assets, according to a Bloomberg report.
Forbe magazine, which lists Gores' net worth at $4.1 billion, writes that Gores oversees more than 25 companies with some $13 billion in assets through his Los Angeles-based private equity firm, Platinum Equity.
