Arn Tellem has agreed to take a senior management position that will oversee Palace Sports and Entertainment company that owns the Detroit Pistons.

Tellem has long been one of the NBA's most influential agents with over 50 players and $300 million-plus in player contracts on the books.

Stan Van Gundy will continue to have final say on basketball decisions.

Tellem will answer directly to billionaire owner Tom Gores, but will not become the ultimate authority on the Pistons' basketball decisions, sources said. 

Tellem's business savvy and stature within the NBA community is expected to be immensely impactful to the Pistons. Tellem's deal with Gores could include an ownership stake, sources said.

Tellem is expected to transition out of Wasserman over the next few months, sources said.

Thad Foucher and B.J. Armstrong have led Wasserman's basketball division.

Marc Gasol, LaMarcus Aldridge and Draymond Green are three free agents represented by Tellem's agency.