Sold American for $583k

The Con


Times are very tough.


The city of Pontiac, Michigan put the Silverdome, the home of the Detroit Lions from 1975-2001, up for sale in 2002.  Back when the stadium was built in the early 1970’s, taxpayers laid out $55.7 million for the state of the art dome.  Although the economy was doing well in 2002, the 127 plus acre site didn’t sell.    


There were prospective buyers and there were bids.  However the city council of Pontiac kept turning them down.  The price just wasn’t high enough.  There were those who whispered the mystery of James R. Hoffa’s disappearance would be solved if the Silverdome was dug up.   No one was fooled by the conspiracy theorists.  The city wanted top dollar – hundreds of millions for the site.  Who cares about the shitty freeway access and the location (fucking Pontiac, one of the most dangerous cities in the state of Michigan, nearly on par with Flint)?


A $20 million bid was turned down in late 2008.  Finally, unable to pay for the Silverdome and surrounding acreage, Pontiac accepted a bid last week.


The sale price: $583,000.


I assume the sale price for Madison Square Garden just took a hit.

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