Sold! Pontiac Silverdome Goes for $583,000

Updated (11/23/09): A judge has ruled that the sale of the Silverdome for $583,000 will go through.

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Original post:

Last month, it was announced the Pontiac Silverdome would be auctioned off. The auction happened and the winning bid was… drum roll, please… $583,000.

$583,000!

Right, not a typo folks — $583,000 for an 80,311-seat sports arena, on 127 acres in Detroit Pontiac! According to the Detroit Free Press, the winning bidder is someone from Toronto who has plans for an indoor soccer team.

The clincher of this story?

In 2005, suburban developers offered nearly $20 million for the Silverdome, but the deal fell apart as the city delayed taking the offer. And last year, a $17.5-million plan to turn it into a horse racetrack, hotel and conference center also fell through.

Too bad Detroit’s Pontiac’s city execs failed to remember the mantra about the first offer being the best offer.

(Photo courtesy Detroit Free Press)