PONTIAC, Mich.--(BUSINESS WIRE)--Williams & Williams (www.williamsauction.com), the premier brand in real estate auctions, announced today that it is selling the Silverdome in Pontiac, Michigan, and 127^+/- surrounding acres, through an Absolute, No Reserve Auction in partnership with CB Richard Ellis on behalf of the City of Pontiac.

Williams & Williams is accepting sealed bids for the Silverdome Auction now through Thursday, November 12th, 4pm EST. At that time, the City of Pontiac, in its sole discretion, may declare the high bidder the winner and end the auction. OR, the City may elect to invite no more than the top five high bidders to a live “best and final” outcry auction held in Pontiac on Monday, November 16, 2009 at 1pm EST at the Marriott Hotel.

Considered an excellent high-profile redevelopment opportunity, the Pontiac Silverdome, an 80,300-seat stadium, is prominently situated on 127^+/- acres accessible by I-75 and M-59. The “gateway site” will lend interested buyers an array of development options.

“We are excited about the Pontiac Silverdome Auction and finding a new owner to become a key member of our community,” said City of Pontiac Emergency Financial Manager Fred Leeb. “The decision to sell via absolute auction illustrates our commitment to sell the stadium and convert an expense into a vibrant future development.”

According to Dean C. Williams, Chairman and CEO of Williams & Williams, “We are pleased to sell and find a steward for this property. It is an excellent opportunity for the people of Pontiac and investors worldwide. This signifies a new chapter for the community and we are proud to be a part of it.”

Interested bidders should contact Dan Falls of Williams & Williams at 918-362-6558 or go to www.williamsauction.com/silverdome for bid package.

About Williams & Williams

Tulsa, Oklahoma-based Williams & Williams, the premier brand in real estate auctions, is a global and multi-platform auctioneer driven by core values of free market competition, transparency and stewardship. Williams & Williams offers auction services throughout the United States and serves thousands of individual clients and the U.S.’s largest financial and investment firms and government agencies. (www.williamsauction.com)

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