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Originally Posted by valo403
That has pretty much nothing to do with the state of the economy in Detroit. It's an old beat up stadium that costs well over a million a year in upkeep alone and has pretty much nothing to offer. There are better venues in the area for any conceivable event so there's little to no opportunity to generate money from it. The costs of demolition would have been very high and a sale puts the land and building back on the tax roll, which provides income to the county and local municipality.
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I understand the economics behind it, but even last year they apparently had a party willing to pay 20 million for it.
Previous proposals
Over the years, various developers have approached the City of Pontiac in hopes of purchasing the Silverdome for a variety of uses. Here are some of the ideas they proposed: • H. Wallace Parker offered the city $20 million in 2008 to build a horse-race track and casino.
• Former Montreal Expos baseball player Nikco Riesgo wanted to create a baseball stadium for an undisclosed amount in 2008.
• Greendome Development submitted a contingent bid of $13.5 million and an alternate bid of $22.5 million subject to various conditions to build a recycling center and landfill in October.
Seems like the auction format may have blown up in their face.