Indoor racing? Silverdome for auction

Charles Nungester · 10/8/09, 7:15 PM

NEW YORK (CNNMoney.com) -- The hard-hit city of Pontiac, Mich., is auctioning off the Silverdome, a stadium of more than 80,000 seats that once played host to the Super Bowl.

The Silverdome, the site of Super Bowl XVI in 1982 and the former home of the National Football League's Detroit Lions, went on the auction block on Tuesday. Bidding will continue until Nov. 12, according to real estate auction house Williams & Williams, based in Tulsa, Okla.

Sitting on 127 acres, the Silverdome was the biggest stadium in the NFL when it was built for $55.7 million back in 1975, the auction house said.

Amy Bates, senior vice president of marketing for Williams & Williams, said there is no minimum bid for the Silverdome, and she declined to estimate the value of the facility.

"Auctions are all about price discovery through competitive bidding," Bates said. "All of us will understand the value of the Pontiac Silverdome when the auction ends."

0:00 /03:10Mich. Gov: We're down, but not out
In its 35-year history, the stadium has played host to the World Cup in 1994 and WrestleMania III in 1987. That showdown between Hulk Hogan and Andre the Giant drew a record number of fans -- more than 90,000 -- for an indoor sporting event.

The stadium is also the former home of the Detroit Pistons of the National Basketball Association. In its heyday, it featured concerts by Madonna and Michael Jackson and an appearance by Pope John Paul II.

But since then, Michigan has fallen on hard times, and the Detroit area now has the highest unemployment rate in the country. The stadium has seen little use since the 2001-2002 NFL season. Fred Leeb, emergency financial manager for Pontiac, said the city has spent about $1.5 million in annual upkeep.

"The reason we're putting it up for auction is because the Detroit Lions moved out years ago, and since then it's only been used sporadically," Leeb said. "So we want to convert a major premier asset of the city -- convert it from something that's been languishing into a new, vibrant marquee asset of the community."

Leeb acknowledged that "demolition is a possibility."

But the city is willing to work with a buyer to give the Silverdome new life. "We established a very flexible zoning ordinance to allow people to do virtually anything that makes economic sense," Leeb said.

Mark Rosentraub, professor of sports management at the University of Michigan and an expert in stadium finance and construction, said the city of Pontiac faces a tough sell in trying to get a good price for the now-empty dome, considering the state of the Michigan economy.

"The Detroit or southeast Michigan market does not need the dome in its current uses," he said. "The population base is not expanding, and between The Palace in Auburn Hills, Ford Field and the Joe Lewis Arena [both in Detroit], anyone looking at it has to have an alternate use in mind for the facility or the land."

First Published: October 7, 2009: 3:00 PM ET

Mud Packer · 10/8/09, 8:53 PM

Chuck,

It would make a great venue for midget indoor auto racing. Doubtful that anyone can make a go of it, but then who knows. The American Speed Association ran an indoor race there in February of 1982 I believe, but it was far from a success and they never did run there again. The track was too small for stock cars but would be a nice midget venue.

However, with that being said, I wouldn't look for any action there any time in the near future. The Silverdome is about 30 miles Northwest of downtown Detroit and pretty much off of the beaten path. Since they have built Ford Field, the Silverdome has sat pretty much vacant and probably will see the wrecking ball rather than auto racing. JMO

10/8/09, 9:32 PM

Especially with all of the unemployment up there.
Jim

Speedwrench · 10/8/09, 11:42 PM

I forget the year, but I think there was an indoor sprint car race at the Silverdome also.

mac miller · 10/9/09, 6:33 AM

We raced midgets, up there, two years in the early 80s. The first year they hauled in a bunch of dirt. HA! Man, what a mess that was!........... It cost the promoter 20 cents per seat to have the place cleaned after the race.
The next year we ran on the paved floor. It was typical indoor midget "wrestling".
Not many people showed up either time.
Don't know what the fate of the 'dome is going to be but I doubt that includes midget racing.

probably Monster trucks! Motorcycle jumpers! wwf rasslin'!

lazyifoto · 10/9/09, 7:16 AM

There was a late model race in the Silverdome back in the 80's.

Seadog · 10/9/09, 8:17 AM

I recall late models and sprints racing there several years ago, possibly a Barhorst production? I also recall that a security guard was killed when a door malfunctioned and fell on him during a race.

duel · 10/9/09, 8:39 AM

the security guard incident happened in Grand Rapids downtown arena. (Devoes?) i remember the dirt and pavement shows at the Silverdome. I can't imagine anyone being able to make a profit from that place. Keeping the roof up cost the city of Pontiac a huge sum i'm sure. This place is real similar to the Hoosier Dome but about 20,000 seats more. Half the building is under ground when you walk in. You would need to keep it busy at least 4 to 5 times a month with concerts, monster trucks, etc. But now Ford field gets all that. we can't even get a good sprint car show up here but maybe twice a year if that....

Tony Barhorst · 10/9/09, 9:23 AM

Interesting post...For the historical record though...The security guard/door incident did happen at Grand Rapids...They ran two years at the Devos Center...Sprints..Stock Cars..Mods..The floor there was damaged by the heavier cars. Gerry Olson of Terre Haute fame was the promoter..The second year he left without paying drivers or the facility...I spoke with the group that owns Devos and other facilities in other states. The FBI has been looking for Gerry.

I have to point this out because the Devos deal gave indoor racing a black eye. I have had both winning and losing promotions...But I will tell you that everyone will get paid no matter what happens.

In regard to the Silverdome..I had interest in it in the nineties and around 2005...but between the bad economy and the building being mothballed...I looked elsewhere.

Rumble Series did bring sprint cars to the RCA Dome with Tony Elliott winning in the Nolan sprinter.

We got an early start on demolishing the RCA Dome.

Tony Barhorst
rumbleseries.com

Charles Nungester · 10/9/09, 10:53 AM

Thanks for the replies. Being the owner, You could pretty much do what you want with the inside of the place.
Tear out seats, make a 3/8ths or something.

Only way it could be profitable is to have multiple venues per year and the patience to build them up. Even chili bowl was a looser for a year or two.

I don't see it becoming reality but I can wish can't I?
Chuck

10/8/09, 7:15 PM	#1 Indoor racing? Silverdome for auction
Charles Nungester Senior Member Race Count This Year: 6 Race Count Last Year: 14 Join Date: Jul 2007 Posts: 22,027	NEW YORK (CNNMoney.com) -- The hard-hit city of Pontiac, Mich., is auctioning off the Silverdome, a stadium of more than 80,000 seats that once played host to the Super Bowl. The Silverdome, the site of Super Bowl XVI in 1982 and the former home of the National Football League's Detroit Lions, went on the auction block on Tuesday. Bidding will continue until Nov. 12, according to real estate auction house Williams & Williams, based in Tulsa, Okla. Sitting on 127 acres, the Silverdome was the biggest stadium in the NFL when it was built for $55.7 million back in 1975, the auction house said. Amy Bates, senior vice president of marketing for Williams & Williams, said there is no minimum bid for the Silverdome, and she declined to estimate the value of the facility. "Auctions are all about price discovery through competitive bidding," Bates said. "All of us will understand the value of the Pontiac Silverdome when the auction ends." 0:00 /03:10Mich. Gov: We're down, but not out In its 35-year history, the stadium has played host to the World Cup in 1994 and WrestleMania III in 1987. That showdown between Hulk Hogan and Andre the Giant drew a record number of fans -- more than 90,000 -- for an indoor sporting event. The stadium is also the former home of the Detroit Pistons of the National Basketball Association. In its heyday, it featured concerts by Madonna and Michael Jackson and an appearance by Pope John Paul II. But since then, Michigan has fallen on hard times, and the Detroit area now has the highest unemployment rate in the country. The stadium has seen little use since the 2001-2002 NFL season. Fred Leeb, emergency financial manager for Pontiac, said the city has spent about $1.5 million in annual upkeep. "The reason we're putting it up for auction is because the Detroit Lions moved out years ago, and since then it's only been used sporadically," Leeb said. "So we want to convert a major premier asset of the city -- convert it from something that's been languishing into a new, vibrant marquee asset of the community." Leeb acknowledged that "demolition is a possibility." But the city is willing to work with a buyer to give the Silverdome new life. "We established a very flexible zoning ordinance to allow people to do virtually anything that makes economic sense," Leeb said. Mark Rosentraub, professor of sports management at the University of Michigan and an expert in stadium finance and construction, said the city of Pontiac faces a tough sell in trying to get a good price for the now-empty dome, considering the state of the Michigan economy. "The Detroit or southeast Michigan market does not need the dome in its current uses," he said. "The population base is not expanding, and between The Palace in Auburn Hills, Ford Field and the Joe Lewis Arena [both in Detroit], anyone looking at it has to have an alternate use in mind for the facility or the land." First Published: October 7, 2009: 3:00 PM ET __________________ Charles Nungester

10/8/09, 8:53 PM	#2 Re: Indoor racing? Silverdome for auction
Mud Packer Senior Member Race Count Last Year: 59 Join Date: Jul 2007 Posts: 5,093	Chuck, It would make a great venue for midget indoor auto racing. Doubtful that anyone can make a go of it, but then who knows. The American Speed Association ran an indoor race there in February of 1982 I believe, but it was far from a success and they never did run there again. The track was too small for stock cars but would be a nice midget venue. However, with that being said, I wouldn't look for any action there any time in the near future. The Silverdome is about 30 miles Northwest of downtown Detroit and pretty much off of the beaten path. Since they have built Ford Field, the Silverdome has sat pretty much vacant and probably will see the wrecking ball rather than auto racing. JMO __________________ Mike Be nice to people on the way up. You might need them on the way down. Jimmy Durante _________________________________________________ Last edited by Mud Packer; 10/8/09 at 9:43 PM. Reason: spelling

10/9/09, 8:39 AM	#8 Re: Indoor racing? Silverdome for auction
duel Senior Member Join Date: Jul 2007 Posts: 3,430	the security guard incident happened in Grand Rapids downtown arena. (Devoes?) i remember the dirt and pavement shows at the Silverdome. I can't imagine anyone being able to make a profit from that place. Keeping the roof up cost the city of Pontiac a huge sum i'm sure. This place is real similar to the Hoosier Dome but about 20,000 seats more. Half the building is under ground when you walk in. You would need to keep it busy at least 4 to 5 times a month with concerts, monster trucks, etc. But now Ford field gets all that. we can't even get a good sprint car show up here but maybe twice a year if that.... _________________________________________________ Last edited by duel; 10/10/09 at 8:12 AM. Reason: took the political rant out. just read the warning.

10/9/09, 10:53 AM	#10 Re: Indoor racing? Silverdome for auction
Charles Nungester Senior Member Race Count This Year: 6 Race Count Last Year: 14 Join Date: Jul 2007 Posts: 22,027	Thanks for the replies. Being the owner, You could pretty much do what you want with the inside of the place. Tear out seats, make a 3/8ths or something. Only way it could be profitable is to have multiple venues per year and the patience to build them up. Even chili bowl was a looser for a year or two. I don't see it becoming reality but I can wish can't I? Chuck __________________ Charles Nungester

10/8/09, 9:32 PM	#3 Re: Indoor racing? Silverdome for auction
bigmojo5 Posts: n/a	Especially with all of the unemployment up there. Jim

10/8/09, 11:42 PM	#4 Re: Indoor racing? Silverdome for auction
Speedwrench Senior Member Join Date: Jul 2007 Posts: 1,047	I forget the year, but I think there was an indoor sprint car race at the Silverdome also.

10/9/09, 6:33 AM	#5 Re: Indoor racing? Silverdome for auction
mac miller Member Join Date: Jul 2007 Posts: 240	We raced midgets, up there, two years in the early 80s. The first year they hauled in a bunch of dirt. HA! Man, what a mess that was!........... It cost the promoter 20 cents per seat to have the place cleaned after the race. The next year we ran on the paved floor. It was typical indoor midget "wrestling". Not many people showed up either time. Don't know what the fate of the 'dome is going to be but I doubt that includes midget racing. probably Monster trucks! Motorcycle jumpers! wwf rasslin'!

10/9/09, 7:16 AM	#6 Re: Indoor racing? Silverdome for auction
lazyifoto Member Join Date: Jun 2008 Posts: 153	There was a late model race in the Silverdome back in the 80's.

10/9/09, 8:17 AM	#7 Re: Indoor racing? Silverdome for auction
Seadog Senior Member Join Date: Jul 2007 Posts: 2,136	I recall late models and sprints racing there several years ago, possibly a Barhorst production? I also recall that a security guard was killed when a door malfunctioned and fell on him during a race.