The Silverdome in Pontiac, MI sells for $583,000 .. cost $55.7 million to build.

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

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.

also a product of Detroit, so I can understand the confusion...

Sign of the times. We might as well get used to it.

Check your math

Please say no

but I'd be lying.

Not only that, but previous offers of up to 20 million, some by locals, were rejected.

GRRRRRRRRRRRRRRRRRRRR!

:grr:

What the HELL happened? Did they just not like the buyers, or what they were going to do with it, or something trivial?

and assumed it was a typo...

:eyes:
rocktivity

One ticket in the nosebleeds.

But then, the wealthy residents of the city of Pontiac can absorb the loss. It's the American way.

That is really sad. Tragic on so many levels.

you dump it to a private company for whatever you can get for it and put the property back on the tax rolls...

I say it made a couple Billion for the community over its lifetime.

I wonder if that was included?

and build a new state of the art soccer only facility and have the 40 + million to pay the entrance fee to MLS, this is really not a soccer story. What they say and what they do are completely different things. MLS basically has 19 teams now with the expansion franchises and Montreal near certainty. And MLS has publicly stated they are stopping at 20, at least for the near future. Hence soccer junkies have known for a long time that #20 better be a good market. Metro Detroit has never been on the short list.

This is how they did it in Asia in the late 90s. Samsung went for a song.

you know the city has been trying to sell the silverdome since 2002, right?

nobody wanted it. thus the bargain price...