Silverdome Sells for Less Than a House

Discussion in 'Economics' started by S2007S, Dec 17, 2009.

  1. S2007S


    Now that's a deal...

    Silverdome Sells for Less Than a House

    It's been host to a Super Bowl, a World Cup, Michael Jackson and the Pope, and now the Pontiac Silverdome has been sold for a fraction of what it cost to build.

    The 80,000-seat Silverdome was the National Football League's biggest venue when it was built in 1975 for $55.7 million. But when the Detroit Lions moved to Ford Field in 2002, the stadium went largely unused, and the upkeep became too much for its owner, the city of Pontiac.

    In an auction back in November, an unidentified Canadian real estate company had the winning bid -- of $583,000, which is about 1% of its original cost.
  2. glpps... time for real change...
  3. wow...bought for 1% of its original costs of 55 million in 1975! And that was back when $55 million was actually worth something.
  4. ehorn


  5. A 34-35 year old stadium may not be worth a whole lot. There are a lot of other obligations and costs than just "original price."
  6. the name was well choosen with such an high maintenance cost :D