Wednesday, January 20, 2010

Estate of Pistons owner mired in legal battles

Pontiac -- A legal fight has erupted pitting the widow of Detroit Pistons owner William Davidson against the managers of his estate, amid reports that she is maneuvering to sell the team.

At issue: Allegations that his estate refuses to pay $20 million the business-and-sports tycoon promised to Jewish and Israeli causes before he died March 13.

The accusations, which emerge from December lawsuits, come as Karen Davidson, 61, is moving to shed some of his holdings. She sold the Detroit Shock women's basketball team in fall and a Manhattan condominium for $3.55 million in August, and recently listed the 10-acre Stony Creek Ranch in Aspen, Colo., for $47 million. Sources also say she's shopping the Pistons, which Forbes claims is worth $479 million.

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