How much did the auction of the Pontiac Silverdome bring in?”
PONTIAC, Mich.–(BUSINESS WIRE)–Williams & Williams (www.williamsauction.com), the premier brand in real estate auction, on behalf of the City of Pontiac, Michigan, announced today the auction for the Pontiac Silverdome was won by a family-owned real estate company based in Toronto, Canada with a high bid of $583,000. The winning bidder plans to refurbish the Stadium and utilize it for men’s Major League Soccer and women’s professional soccer teams. The successful bidder’s name is not being released until final details are worked out and the sale closes. Fred Leeb, the Emergency Financial Manager for the City of Pontiac, stated, “I view these results as a success because: * We recognized the problem and made the tough decision to base the sale on reality rather than dreams of higher sale prices and procrastination. * The Silverdome will now be in the hands of professionals who can devote their time to transform this high-profile property into a vital asset instead of enabling it to co
The city will sell the Pontiac Silverdome for $583,000 to a Canadian company that hopes to maintain it as a sports venue, city officials announced this afternoon. The company’s name is not being released until final details are being worked out, said Fred Leeb, the city’s emergency financial manager. The company hopes to bring a soccer league to the site. The company was one of four bidders considered today during an auction at the Marriott Hotel for the Silverdome, the former home to the Detroit Lions. Advertisement The 80,300-seat stadium and 127 adjacent acres are being auctioned by Tulsa, Okla.-based Williams & Williams auctioneer firm. Bidders had to submit their proposals by Thursday. The Silverdome has sat largely empty since the Detroit Lions moved to Ford Field in 2002. Its $1.5-million-a-year upkeep has been a drain on the city of Pontiac, now beset by budget woes and supervised by Fred Leeb, the city’s emergency financial manager. The city invested $100,000 in marketing and
