The Pistons announced Wednesday morning that a Citigroup subsidiary has been hired to broker the sale of the Pistons and Palace Sports & Entertainment.

The subsidiary has been in contact "with a number of interested parties," the Pistons said in a news release, adding that the NBA "has been informed of the engagement."

Pistons owner Karen Davidson, who assumed control when her husband Bill died in March of 2009, said last month that the team is for sale.