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[cnnmoney]Silverdome sells for ... less than a house

Discussion in 'Other Sports' started by tinman, Nov 17, 2009.

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  1. tinman

    tinman 999999999
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    http://money.cnn.com/2009/11/17/news/economy/silverdome_buyer/index.htm

    DD could have bought this with the money under his pillow!!! ;)

    Silverdome sells for ... less than a house

    Unidentified Toronto-based real estate company buys Pontiac stadium for $583,000 - a fraction of the $55.7 million it cost to build.

    NEW YORK (CNNMoney.com) -- An unidentified Canadian real estate company was the winning bidder for the Silverdome, snatching it up for a mere fraction of its original value.

    A Toronto-based family-owned company bid $583,000 for the under-used stadium on Monday, which is currently owned by the City of Pontiac, Mich., according to auctioneer Williams & Williams.

    The company plans to refurbish the Silverdome into a stadium for men's Major League Soccer and women's professional soccer teams, said the auctioneer. While the stadium was the former home of the National Foodball League's Detroit Lions, it also played host to the World Cup in 1994, when Brazil beat Italy in a knuckle-biter that ended in a penalty shootout.
     
    #1 tinman, Nov 17, 2009
  2. Angkor Wat

    Angkor Wat Member

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    Dude, Clutchfans could have easily raised enough money to buy this. I can see it now, Clutchfans Stadium. First live event, DD vs SamFisher. Round 1 will be a basketball debate, Round 2 a boxing match and Round 3, MMA rules.
     
    #2 Angkor Wat, Nov 17, 2009
  3. leroy

    leroy Member
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    That's crazy. Having a stadium already in hand would make landing a MLS expansion team pretty easy...or for a team that needs to move (Detroit Dynamo if a stadium deal doesn't happen in Houston?).
     
    #3 leroy, Nov 17, 2009
  4. WhoMikeJames

    WhoMikeJames Member

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    Don't forget Mega-Showdown: Fatty vs Batman.
     
    #4 WhoMikeJames, Nov 17, 2009
  5. leroy

    leroy Member
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    The 2nd could be Fatty vs. Batman in a bout titled "STFU ALREADY".
     
    #5 leroy, Nov 17, 2009
  6. RedRowdy111

    RedRowdy111 Member

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    Damn thats cheap. My House almost cost that. Where was I?
     
    #6 RedRowdy111, Nov 17, 2009
  7. krnxsnoopy

    krnxsnoopy Member

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    That's cool but I just bought the Astrodome for 6 Gs.. Less than a car...
     
    #7 krnxsnoopy, Nov 17, 2009
  8. studogg

    studogg Member

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    the real cost will be associated with the renovations.
     
    #8 studogg, Nov 17, 2009
  9. robbie380

    robbie380 ლ(▀̿Ĺ̯▀̿ ̿ლ)
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    i wonder what the taxes on that place are like
     
    #9 robbie380, Nov 17, 2009
  10. robbie380

    robbie380 ლ(▀̿Ĺ̯▀̿ ̿ლ)
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    just saw that back in '08 they were in talks to sell it for 20 million lol
     
    #10 robbie380, Nov 17, 2009
  11. Air Langhi

    Air Langhi Contributing Member

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    I think paying for maintenance + taxes will run a few mil.
     
    #11 Air Langhi, Nov 17, 2009
  12. leroy

    leroy Member
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    True, but if they do things right, the return on investment should be pretty damn fast.
     
    #12 leroy, Nov 17, 2009
  13. MadMax

    MadMax Member

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    they're giving away property in michigan.

    in the early 90's it was like that on 1960 here in town....if you'll assume the obligations (taxes/maintenance) the building is yours.
     
    #13 MadMax, Nov 17, 2009
  14. Faos

    Faos Member

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    You forget it's in DETROIT.
     
    #14 Faos, Nov 17, 2009
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