After the Lions departure, the city of Pontiac began to experience dire financial problems. Due to continued high costs to maintain the stadium, the city made several unsuccessful attempts to sell the stadium. In early 2008, United Assurance Company Ltd. made the highest purchase offer to date, with a bid of $18 million to convert the Silverdome into a Hollywood-style entertainment complex, following an earlier bid of $12 million by an attorney. However, the city announced in October 2009 that the property would go to auction with no minimum bid, and that zoning regulations would be relaxed for any buyer in order to spark development. The city engaged the firm of Williams & Williams to conduct the auction in November 2009.
Silverdome sells for $583,000
After reading about the auction in a newspaper, Greek-born Canadian real estate developer Andreas Apostolopoulos, CEO of Toronto-based Triple Properties Inc., submitted a winning bid of US$550,000. Real estate fees of 6% raised the price to US$583,000. The sale of the Silverdome, completed in 1975 at a cost of $55.7 million (approx. $225 million in 2012 dollars), and sold in 2009 for $583,000 was viewed by many as a symbol of the collapse of real estate prices in the Detroit metropolitan area though many local leaders and residents claimed the sale was brought about due to the incompetence of city management and their not having a vision or future plans for the stadium and surrounding area.
The roof was permanently deflated on Wednesday, January 2, 2013 as an energy saving measure during upcoming renovations. Plans call for a new, permanent, self-supporting roof to be installed topped with solar panels for energy production.