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NFL stadium built for $55m is sold for $583,000

The stadium is the former home of the National Football League’s Detroit Lions, who left for downtown Detroit in 2002, and once hosted the SuperBowl.

Pontiac was reported by local press to have turned down offers for it of $17 million, $18.5 million and $22 million in the past decade. But now the city’s finances are so bad that its emergency financial manager Fred Leeb told Bloomberg: “You could say Pontiac is in a depression, not just a recession.”

Pontiac is about 30 miles outside of Detroit and has a population of only around 66,000.