The winning bidder is an unknown Canadian company that apparently wants to bring a soccer team to the Detroit area.
From the Detroit News:
"We had hoped it would have brought more, but now the city can be freed of its upkeep and get it back on the tax rolls," Leeb said. Pontiac Mayor Clarence Phillips said he was "disappointed" but knew the city had to shed the costly structure. Councilman Everett Seay said he expects someone — possibly a prospective buyer turned down in recent years — to file a lawsuit to block the sale.
"The citizens of Pontiac deserve better," Seay said. "This is pennies on the dollar (of what it cost). It goes to show how bad times are ... Worse, we don't even know who bought it."
The company, which Leeb described only as a Toronto-based group of real estate investors and a "family-run business," was one of four bidders considered during an auction at the Marriott Hotel. Others bidders were not identified and most left without talking to reporters.
It's too bad nobody told us they were accepting bids. Then again, Consumerist doesn't really believe in dome blogging.
Silverdome sale price disappoints [Detroit News]
(Photo:MRBECK)
This is an excellent example of why you do not let a professional sport team with millionare owners BLACKMAIL your community into to giving them or paying for a stadium FOR THEIR BUSINESS .
If it was a municipal stadium I wonder how much rent/tax actually went back into the community .
]]>What happens in the Consumerist-Dome STAYS in the Consumerist-Dome!
]]>@bornonbord: Obviously, hockey wasn't a choice.
]]>See also the old Chicago post office building which has an estimated replacement value of $300 million, but was sold at auction first for $40 million, and then $17 million when the winning bidder defaulted on his original winning bid, and consequently won the second round of bidding.
]]>Not taking the 20 million dollar offer to turn it into a horse racing/gambling establishment last year was a big mistake.
]]>Thank you for the correction. I guess I have something against Detroit when my Ford stock crapped out on me.
]]>@TacoChuck: I was going to make some snarky comment that maybe it is named after the car model? But nothing on the page, [en.wikipedia.org] indicates it was done that way.
So, therefore, no snarky comment from.
But Google Maps has it about 30 or so miles from Detroit, so maybe Blueskylaw was thinking that Pontiac was under the jurisdiction of Detroit's Business Improvement District (we have those here in NYC).
@bornonbord: Especially with the Astroturf thats in it? Who would want to play on that stuff. They'll have to shell out some cash for that new grass-astroturf mix that some arenas use now.
]]>The first thing the city of Detroit did is issue a fine to the Canadian company for having a blighted property and tall grass.
]]>Are they British? Or Kiwis?
]]>I wonder if the $8000 tax credit applies?
]]>Hey! I had some cash laying around! I would have bought it, and we would have hosted some awesome-sauce Consumerist get-togethers in it!
]]>While the maintenance costs would be a little high, I think we could have raised the funds hre to buy the thing.
Of course, it doesn't help that Ford Field has left Pontiac a shell of its former self.
]]>