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Silverdome Rights Determined Monday?

Published: November 19, 2009 10:48 am ET

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The future of the Pontiac Silverdome could be determined Monday, November 23, as an Oakland District Court judge is scheduled to rule whether Toronto investors or attorney H. Wallace Parker, part of Silver Stallion Corp., has the rights to the sporting venue.

A report by The Detroit News quotes city attorney Ruben Acosta as saying that there was a purchase agreement with Silver Stallion in 2008, but that the group failed to close the deal. Acosta stated that the deal expired on November 1, 2008.

In 2008, Silver Stallion had proposed to operate an indoor thoroughbred racetrack at the Silverdome. Under the proposal, the location would have also included destination-type restaurants and nightclubs, retail aspects, and a racino and conference centre along with an alternate-energy research site and equine research and development facility.

A $583,000 deal to sell the Silverdome was struck this past Monday with investors from Toronto looking to bring both men's and women's professional soccer to the facility. The deal was then halted by an Oakland County judge this week.

Click here to the read The Detroit News article in its entirety.

(With files from The Detroit News)

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