DETROIT – The Palace of Auburn Hills will be sold and demolished once the Pistons move back to Detroit, according to Local 4 sources.

The Pistons are holding a press conference Tuesday with Ilitch Holdings to discuss the team moving to Downtown Detroit.

Sources say unlike the Pontiac Silverdome, which decayed while sitting abandoned for years, the Palace site is much too valuable for it to remain undeveloped.

The Pistons would share the new Little Caesars Arena with the Detroit Red Wings.

VIDEOS: Take virtual tour of Red Wings' Little Caesars Arena

The Pistons have played at The Palace of Auburn Hills since 1988, after previously playing at Cobo Arena and the Pontiac Silverdome.

READ: 5 places the Detroit Pistons called home

POLL: Are you more likely to go to a Pistons game when the team moves Downtown?

Fast Facts: Palace of Auburn Hills

Capacity Basketball – 22,076; Hockey – 20,804; Concert and Family Shows – 6,000 to 23,000

Suites: 175 total. 164 suites overlook the arena; some as close as 16 rows from the floor. This trend started with The Palace’s construction and continues to be the standard in most U.S. arenas. The 100-level and 300-level suites have private concourses. There are also eight suites without arena views in the President’s Club and three suites without arena views in the Courtside Club.

Events: An annual average of 200

Parking: 8,400 parking spaces on site

Source: NBA.com

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