Pontiac Silverdome for sale again with asking price of $30 million

Friday June 12th, 2015

The Pontiac Silverdome, once home to the NFL's Detroit Lions and the NBA's Detroit Pistons, is up for sale again with an asking price of $30 million for the stadium and the surrounding 127 acres of land, according to the Detroit Free Press.

Triple Investment Group LLC bought the Silverdome for $583,000 in 2009.

The Lions played in the Silverdome until 2002, when the team moved into its new stadium at Ford Field in downtown Detroit. The Pistons moved to the Palace of Auburn Hills in 1988.

The stadium, which opened in 1975 and cost $56 million to construct, is now in ruins: The canvas roof is partially ripped off because of winter storm in 2013, the turf was covered in a foot of water and mold has spread around the facility. Workers even had to scare off foxes that were living in a section of the lower bowl.

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Still, realtors think they can get top dollar for the facility.

“We've gotten quite a bit of interest, locally, nationally and internationally," CBRE realtor Robert Mihelich said, according to the Detroit Free Press.

The stadium, which seats 80,000 spectators, has hosted the Super Bowl, NBA Finals, World Cup and WrestleMania.

The owners of the building had an everything must go sale last May, selling flat-screen televisions, pretzel warmers, a boxing ring, a Zamboni turf machine and scoreboard, with bids that started as low as $5.

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Mihelich said the facility will have many purposes if it is sold.

"My guess is, at the end of the day, it probably will be a redevelopment site," Mihelich said, "and it probably will be a corporate headquarters for somebody."

- Scooby Axson

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