Silverdome sold for $500,000 WOW!!!

[ANDROMADA 1]

This is unbelievable!Tough times in Detroit indeed.

http://www.detnews.com/article/20091...ce-disappoints

[z Revis]

Are you serious??? Talk about a freaking steal.

[daflyboys]

It will be worth more once they put houses or hotels on it!

[p_rushing]

Its a dump in an area/city that is just barely above a dump and on their way to ghost town. If the car companies aren't able to comeback strong, nothing will be left there and it will be a lose of $500,000.

[rudyjuly2]

Kind of serves Pontiac right. The Lions had a terrible lease deal and got absolutely nothing out of it (if my memory is good). 10 years ago the Cowboys were taking in at least $30 million annually just from the stadium. The Lions were right around $0. When the Lions wanted to renogiate the lease to remain competitive in the NFL Pontiac refused. They had just finished paying off the stadium and wanted to make a ton of money of the Lions. Instead, the Lions moved downtown (more convenient for me, Pistons might end up back in Detroit too) and they are left with nothing. They had their chance and blew it.

[SPTO]

This kind of reminds me of what happened with Skydome/Rogers Center. Let me see if I can find the details. I know the group that bought it and later sold it to Rogers paid for it at a bargain basement price and that was in GOOD economic times.

Ah, here we go, in 1998 Skydome was purchased by Sportsco International out of bankruptcy for 85 million bucks. That seems good but again WAAAAAY below the worth of the stadium. In 2004 the stadium was bought by Rogers Communications for a paltry 25 million!

This is a lot more then the Silverdome but keep in mind that concert events and 2 professional sports teams were/still are playing in the venue. If economic times were bad when Skydome was sold I wager it would only go for 10 million.

[rudyjuly2]

And I think the Skydome cost over $500 million to build which was footed by the taxpayers of Ontario. I think Coyotes hockey is ready to plunk down a huge loss on their stadium as well. Hockey won't be successful in Glendale.

[Maize08]

Quote: Originally Posted by rudyjuly2

Kind of serves Pontiac right. The Lions had a terrible lease deal and got absolutely nothing out of it (if my memory is good). 10 years ago the Cowboys were taking in at least $30 million annually just from the stadium. The Lions were right around $0. When the Lions wanted to renogiate the lease to remain competitive in the NFL, Pontiac refused. They had just finished paying off the stadium and wanted to make a ton of money of the Lions. Instead, the Lions moved downtown (more convenient for me, Pistons might end up back in Detroit too) and they are left with nothing. They had their chance and blew it.

Totally the truth. Pontiac messed up the deal, and if they could have restructured the deal and updated the stadium, the Lions would probably still be playing in the Silverdome. Sad to see it go for so little. The city had tried many ploys to use the facility, but nothing really worked. The most use it got was during the Super Bowl, when it was used as a practice facility.