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"The deal stipulated that the Palace may not compete with the new arena for event bookings, according to people familiar with the negotiations."
So no events. No Pistons. No need.
It is amazing that all of the money recently put into it is money down the drain...
So Sept 23 last concert at the Palace and the first athletic event, Wings' pre-season game at LCA.
History will be made...
http://www.freep.com/story/entertainment/2017/08/24/palace-auburn-hills-closing-bob-seger/569388001/
"On the entertainment side, the Palace regularly ranked among the top 10 grossing U.S. arenas annually..."
Was always under the impression that arenas actually lose money. The article does not allude to The Palace netting any profits but it would be interesting to know if it did.
Like the Silverdome, I think it will remain an abandoned eyesore for a while. Being as remote as it is, it may even prolong its abandonment
Good riddance
You're joking right? The palace belongs to a private corporation sitting on some of the most Expensive land in the state. It's a prime site to redevelop into a factory, Industrial park or corporate headquarters. It has great transportation connections.Quote:
Originally Posted by SammyS
It will be promptly torn down and the land repurposed is very short order. I'm sure Gores is drooling over the profits he'll make by getting rid of that obsolete building and selling off the land.
Yep, the financial parameters for Gores is pretty complex.Quote:
Originally Posted by ndavies
He had an arena, put a lot of money in it, and left it for Detroit, gets help from Detroit, and now sells the property to further recoup his funds.
I hope you're right but I'm drawing conclusions based on the Silverdome. Purchased for <$500k, at corner of major intersection, amongst industrial parks or engineering centers, close to Chrysler and GM.......Quote:
Originally Posted by ndavies
now hosts occasional monster car, little league soccer and hoons chucking burnouts on a shitty excuse for a test track.
How long has it been this way? Sure that was not the intented outcome of the investors [[some Canadian mob from memory)
Just to think on it the Palace would still be open with no talks of the Pistons ever moving back to Detroit had former owner the late Bill Davidson had lived. There would be no discussion of him moving his team back to Detroit and salvaging the building that he had just spent millions on to build. Agreed?
Why is it that major Arenas and Stadiums only have a shelve life of fifteen to twenty years? Hell - I've got underwear older than that. Damn, grab your pocket.Quote:
now hosts occasional monster car, little league soccer and hoons chucking burnouts on a shitty excuse for a test track.
Very true.Quote:
Originally Posted by stasu1213
Freeway access to the Silverdome is awful. Most people would get off of I-75 onto M-59, which is already pretty busy, then get off onto Opdyke [[or MLK), then into the Silverdome.Quote:
Originally Posted by SammyS
The Palace has, basically, it's own giant exit off of I-75, then onto Lapeer, and you are there. It even has a dedicated entrance to the ramp onto northbound I-75.
Look at all the technical centers and light industrial on Harmon road, right next to the Palace. This is a prime industrial area.
^^
Ok ok, I'm all about improving the situation in Michigan and Detroit so let's hope I'm completely wrong. Let's hope this new industrial park attracts talent and technology to keep us in top. We can certainly do with more automation integrators in the burbs and high tech software coding and design studios downtown. That would be sweet.
And when you factor in the facts that Great Lakes Crossing and all it's associated surrounding big-box development are just the next two exits away heading northbound and that the FCA headquarters and tech center and Oakland University are just the next two exits away heading southbound, it's positioned smack dab in the middle of all the action-and to make it all the more interesting, almost halfway between the downtowns of Detroit and Flint, equal distances from all the northern suburbs, equal distances from urbanized Genesee County.Quote:
Originally Posted by JBMcB
Had lived? He would have been 94 years old when this deal was going down. I am pretty sure his owning days were winding down.Quote:
Originally Posted by stasu1213
I am surprised the Palace will be closing so quickly, although the no-compete clause certainly ended its chances, if a bit prematurely.
I do think the property will be put to new uses rather quickly, though. Valuable land, and a large piece of it.
With LCA now becoming the only game in town, that will create a few new things for our area. First, downtown will be having an event or game almost every day of the year. Second, there is no logical "second venue" for dates with a conflict. While Ford Field, Comerica Park & eventually the soccer stadium will all certainly hold events besides their sports team games, they aren't really right for most other "arena" concerts and shows. It wouldn't surprise me one bit if UM decided to build a new, bigger venue to replace Crisler Center. It could then be competitive for hosting concerts and shows, in the way the Breslin Center is in East Lansing.
I agree with your comments, ALTHOUGH I see Ann Arbor as its own market and I believe UofM has spent a lot of money upgrading Crisler. I doubt many folks will go from Macomb to Ann Arbor for anything other than a UofM FB game or maybe a big soccer match.Quote:
Originally Posted by MikeyinBrooklyn
Agree 100% about LCA. It will easily do 150+ events per year and could draw say 3M patrons.
Detroit has never had anything like that before.
We'll see how things play out starting in a few weeks and how it will effect things like traffic, parking, eateries, etc. etc.
Folks with very deep pockets will then decide if they want a 'piece of the action' and open up businesses, etc in that area.
LCA, Comerica and Ford Field will easily host 5 - 6M patrons per 12 months, essentially double what Comerica and Ford Field host now.
Time for business people to take a look and see the business opportunities, big and small.
^Humorous truth.Quote:
Originally Posted by Bigb23
To add to the positives for Gores sacking the Palace cited above, if I'm in Gores shoes I'm also thinking, move to Detroit, get the subsidizes + enhance my position with mayor and council to get a joint-ownership of a major league soccer franchise with an arena on the jail site. Long time that ownership value would pay for several Palaces.
The big difference is downtown's turnaround. It is an exciting, and, yes, now considered a safe place to play before and after the game. Compare that to a trip to the Palace. Game over and what is there to do? Get in your car, crawl out of the parking lot, and drive home.
What I feel sorry for are the unheralded little guy and gal workers who get dumped and have their lives disrupted.
I disagree. Matty Moroun is in his 90s and still claim ownership of the bridge and the train stationQuote:
Originally Posted by warsaw7
Go figure
Which is why I always figured the place was in the middle of nowhere, and relatively valueless without the arena on it. The few times I ever drove all the way out there all I ever saw around there was parking lots and highways. After the game, like you said, there was nothing to do but just get in your car and drive all the way back home [[or at least someplace on the way with some actual life to it, like Royal Oak). You would think if the area was so nice that someone would have at least built some place nice to go before/after games and concerts.Quote:
Originally Posted by Lowell
But I'll take the word of people who've spent more time out there in the hinterlands that there's actually something valuable out there that makes that big patch of scrubland and parking lots worth something and that it won't just sit and decay like the nearby Silverdome. While I hate the stupid HQ giveaway that Gores got, I'm still going to be pretty pleased to have my favorite sport back somewhere where I don't have to drive and hour+ to see it. And where I can get a bite to eat before the game and maybe a beer or two after, and make a real evening out of it.
Now all we need is a decent basketball team.
And Eastside Al just gave a very, very good explanation why LCA is where it is.Quote:
Originally Posted by EastsideAl
Things wouldn't be any better if it [[LCA) were at the Metro airport or downriver.
I'm sure it was placed specifically in a very, very high 'traffic' area, near downtown and on Woodward to maximize the commercial effect.
The exact opposite of the Palace.
There is an old saying in history: "The generals are always fighting the last war."
Well, this is different: Sports builders see the errors of past stadiums/arenas and do the OPPOSITE next time.