The former home of the Detroit Lions was auctioned off for a fraction of the $55.7 million it cost to build. A Toronto-based family-owned company bid $583,000 for the under-used 80,000 seat 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.
The sale of the Silverdome takes a large financial burden off the hard-hit city of Pontiac, which has fallen on hard times since the GM plant closed there. The city could ill afford to continue paying $1.5 million in annual upkeep for the stadium. With a private owner, the property will go back on the tax rolls.
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