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Michigan First CU sues Detroit Pistons

Michigan First CU filed a lawsuit against the National Basketball Association's Detroit Pistons and Palace Sports and Entertainment for their breach of a 2016 sponsorship agreement, Crain's Detroit Business reported March 1.

The Lathrup Village, Mich.-based credit union argued that the Pistons signed a new exclusive deal with Troy, Mich.-based Flagstar Bancorp Inc. after the basketball team moved to Little Caesars Arena in Detroit from the Palace of Auburn Hills. The deal was signed even after the Pistons agreed to a sponsorship with Michigan First while still at the Palace of Auburn hills, the newspaper wrote.

Under the 2016 sponsorship deal, the Pistons could terminate the agreement with Michigan First when the team leaves the Palace of Auburn Hills, but would "in good faith" negotiate opportunities for a new comparable deal, Crain's Detroit Business reported.

Michigan First had secured an injunction that required Detroit Pistons to uphold a commitment to negotiate a new agreement. However, the injunction was revised last week by the Michigan Court of Appeals making it unclear if further action will be taken, according to the report.