Anyone want to buy a football stadium?
If you have the cash, you might be lucky enough to be the high bidder for the Pontiac Silverdome, where the Detroit Lions played for 26 years.
After spending $1.5 million a year to maintain the structure, the city of Pontiac has agreed to get rid of it for any price.
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Auctioneer Williams & Williams has started to take sealed bids for the structure, its contents and the 127 acres the stadium sits on.
Bidders have are required to leave a $250,000 deposit, but could actually get the property — built in 1975 for $55.7 million — for much less.
The top five bids will then be given to the city on Nov. 12 and the city then has the rights to conduct an auction among the top bidders on Nov. 16.
It will be interesting to see how much someone is willing to pay, especially since the odds of someone fielding a football team inside the dome are extremely small. Detonating the stadium alone would likely cost at least $5 million.
Pam McKissick, president and COO of Williams & Williams, said that anyone who buys it has the right to use the land for virtually any purpose, including developing retail or office space.
McKissick wouldn’t say how many people have ponied up the deposit for the bid package, but did say the company has had worldwide interest in the Silverdome.
Is it the strangest thing they’ve ever auctioned off?
“No,” McKissick said. “We once sold a stealth bomber plant.”
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