Oakland County has turned down an offer to buy The Palace of Auburn Hills earlier this year, the county announced in a release.
According to Oakland County, the offer came in June and would have cost about $384 million to buy the site from Detroit Pistons Owner Tom Gores. Gores owns all of Palace Sports and Entertainment.
The proposal then would have the county lease the arena back to the Detroit Pistons.Ac
According to the county, they turned down the offer because it didn't want taxpayers to have another situation like The Silverdome. It would have required $270 million in bonding by Oakland County, according to the release.
"Plus, the county thinks the property is better in the hands of Mr. Gores and his team along with their vision of the future," the county said in a release.