When They Ask You Money for a Stadium

Remember the Silverdome, in Pontiac Michigan, which cost $55.7 million to build, and was just sold for $583,000.00, not much more than a nice house.

Not a bad deal, when you realize that it also includes a sizable lot as well:

As a result, Leeb said, Pontiac could ill afford to continue paying $1.5 million in annual upkeep for the stadium. With a private owner, the property "will go back on the tax rolls," he explained.

The 80,000-seat Silverdome was the biggest stadium in the National Football League when it was built in 1975 for $55.7 million [about $220 million in 2009 dollars]. The stadium, which sits on a 127-acre plot, is also the former home of the National Basketball Association's Detroit Pistons.

Something should be done about the legalized extortion that pro sports franchises engage in, but I don't expect to see this in my lifetime.