PONTIAC, Mich., Oct. 8 (UPI) -- A city official in Pontiac, Mich., says anticipation is building over the upcoming auction of the Pontiac Silverdome, former home of the Detroit Lions.
Pontiac Emergency Financial Manager Fred Leeb said the Nov. 12 auction should result in city officials freeing themselves of the annual upkeep cost of $1.5 million for the former NFL franchise location, The Detroit Free Press said Thursday.
"We are excited about the upcoming sale of the Silverdome and finding a new owner who will become a key member of our community," said Leeb, adding the auction "illustrates our commitment to sell the stadium this year and convert an expense into a vibrant future development."
The Williams & Williams auction on Nov. 12 could be followed, if city officials choose, with a second auction on Nov. 16 involving the top five bidders for the sports stadium.
Doug Smith, director of economic development for Oakland County, told the Free Press the site where the Lions played their home games between 1975 and 2002 remains a valuable commodity.
"It's a very important piece of property for Pontiac, but I think it's important for Oakland County as well," Smith said. "It sits right out there at the intersection of M-59 and I-75."