A Michigan judge temporarily blocked the city of Pontiac’s plan to sell the Silverdome football stadium for $583,000, a price that works out to $7.25 a seat.
Silver Stallion Development Corp. of Bloomfield Hills, Michigan, asked for and today was granted an injuction, saying it struck a deal with Pontiac in 2008 to buy the former home of the U.S. National Football League’s Detroit Lions. The developer offered $17 million to turn the 127-acre site into a casino and horse-racing track, Silver Stallion said in its court filing.
'This developer had plenty of opportunity to close on the property,' Ruben Acosta, an attorney for the city, said in a telephone interview today. 'The fact was they could not and did not obtain the requisite financing to do that.'