The modus operandi of large venue owners is new one gets built... the old one must be destroyed to prevent competition.

Back in the 1960s when the Lincoln Center was built in NYC, no amount of others trying to buy the old 1883 Metropolitan Opera House could save it from the owners, who didn't want competition for Lincoln Center. It was pounded to rubble in the late 1960s.

Ditto for Tiger Stadium/Comerica Park... JLA & LCA and many other venues around the country.