Silverdome on the Block

The Silverdome, the former home of the Detroit Lions, will be sold next month at auction.

The city of Pontiac, which the state declared this year to be in a state of fiscal emergency, has tried to sell the 80,000-seat stadium since the National Football League team moved to downtown Detroit in 2002. Several redevelopment deals have fallen through, and city officials said they would sell the facility to the highest bidder at auction in November.

The city reportedly pays $1.5 million a year to maintain the empty building, one of the town’s largest. There is no minimum bid and the highest bid will be accepted no matter what the price, officials said. But bidders must pay a $250,000 deposit to tour the stadium before the auction.

For reprint and licensing requests for this article, click here.
Michigan
MORE FROM BOND BUYER