Silver Dome sells for $583K

red-beard · red-beard's Garage

We could probably setup one heck of a shooting range in a place like that!

Oh Haha · 11-24-2009, 02:53 PM

You'll need to get the crack addicts to move out first.

What is really stupid is that a few years ago there were offers of 5 or 6 million for it but they were turned down.

Way to go!!!

whiskyb · 11-24-2009, 02:59 PM

Its been years since I was their but I still cannot imagine such a low price. Is it falling apart

Whiskyb

mike55 · 11-24-2009, 03:03 PM

I went to Lions games there as a teen and remember the Superbowl as well. Concerts - Bob Seger, The Stones, The Who...... What's happened to Detroit and the surrounding burbs is a real shame.

dd74 · 11-24-2009, 03:11 PM

At least Matt Millen got out of there.

1990C4S · 11-24-2009, 03:23 PM

The guy that bought it is from Toronto. He submitted a lowball bid and never expected to win. Now he needs ideas how to make it work financially, because he appears to be clueless. He hasn't even been to the site, let alone seen the inside of the dome.

Taxes and other little niggling issues will kill this.

porsche4life · porsche4life's Garage

Quote:

Originally Posted by red-beard

We could probably setup one heck of a shooting range in a place like that!

Multipurpose... A tight autocross course could be setup as well.... Year round climate controlled autocross... COOL.

ckissick · 11-24-2009, 07:56 PM

Around here, that's a cheap price for a house. Who says you can't just make it your home and live there? Think of the parties you could have.

red-beard · red-beard's Garage

Autocrossing with firearms!

Brilliant!!!

Pazuzu · 11-24-2009, 08:01 PM

He's making it a soccer stadium. Hopes to get an MLS team in there, otherwise it'll be USL teams and local college teams.

porsche4life · porsche4life's Garage

Hmm have we just invented a new sport? See who can turn the fastest time and shoot the tightest group... Like stop halfway through the course and take 5shots and then continue?

BRPORSCHE · 11-24-2009, 08:04 PM

Already done in the olympics. Ski, shoot, and then something.

red-beard · red-beard's Garage

Bi-athalon

Cross country ski, then shoot, then ski back.

Tim Hancock · 11-25-2009, 03:12 AM

I raced Supercross in there several times in the late 80's & early 90's. One of my ankles still gives me trouble at times from casing a big double jump there. Unbelievable that it could be bought for such a relatively small amount of money.

1990C4S · 11-25-2009, 04:44 AM

Quote:

Originally Posted by Pazuzu

Hopes to get an MLS team in there,

I think the media interest caught him off-guard and he made a statement to molify them

He hasn't contacted MLS, they have no 'plans' for a team in Detroit, and the stadium isn't really appropriate. And he has no experience or history in pro sports of any kind. And likely not enough cash.

Under his terms I am making my back yard into an NHL stadium. And getting a team shortly.

competentone · 05:54 AM

I'm thinking auction fraud. What's the scrap steel, copper, etc. value? What would the 127 acres sell for alone?:

ben parrish · 11-25-2009, 06:30 AM

No doubt about possible fraud. The salvage value of the metal alone is worth more than the purchase price. The you have the land and heavy equipment.
A smart bet would be to scrap it and then sell part of the land to a develonper; donate part to the goverment for a park. This could make the guy a lot of money.

rick-l · 11-25-2009, 07:02 AM

From what I read the bid had to include $250,000 earnest money. He was the only one that included a check. The others that bid around $20 mil did not. A court appeal by the other bidders lost. It also said the city has been spending 1.5 mil a year maintaining it.

Pazuzu · 11-25-2009, 07:45 AM

Quote:

Originally Posted by 1990C4S

I think the media interest caught him off-guard and he made a statement to molify them

He hasn't contacted MLS, they have no 'plans' for a team in Detroit, and the stadium isn't really appropriate. And he has no experience or history in pro sports of any kind. And likely not enough cash.

Under his terms I am making my back yard into an NHL stadium. And getting a team shortly.

Oh, don't get me wrong, I knew he couldn't get what he was claiming (they've all but locked in all 20 teams for the MLS). I thought I had read that he owned/ran/was associated with a USL level team out there, and that he had contact with one of the local colleges. Of course, that contact might have been:
Guy: "Hey school, wanna play your soccer games in the Silverdome?"
School: "Sure!"
Guy: "OK, I'll make that happen for ya, because I'm that kinda guy."
Click. Story dies.

CurtEgerer · CurtEgerer's Garage

I doubt there is any fraud involved. This auction was open to anyone crazy enough to submit a bid. 4 bids were submitted. As mentioned, the reason the city is dumping it is the $1.5 million yearly maintenance bill

There was a lawsuit filed by a local black attorney to halt the sale. The judge tossed that out yesterday. This guy was claiming he was discriminated against

Despite the fact that the Pontiac city officials conducting the sale are all black. This guy had a purchase agreement with the city 2 years ago for $17 million and was going to turn it into a "racino" (horse track and casino). But he never came up with any cash and the deadline on his PA expired a year or more ago. Why didn't he submit a bid on the current auction if he still wanted to buy it ....

Keeping in mind the old real estate adage: location, location, location - the Pontiac Silverdome is located in the middle of one of the worst ghetto/gang areas in the country. I wouldn't cross the street without being armed. The city of Pontiac is managed by a state-appointed emergency financial officer because they've been incapable of doing it themselves. The unemployment rate is over 35%. Half of the city's schools are slated to be closed because they have a 20,000-student capacity but only 7500 students. None of this is new. Pontiac has been like this for many, many years