The Pontiac Silverdome and surrounding parking lots were sold Monday during a private auction for $583,000 to a Canadian family-owned real estate company.
The company, whose name is not being released by the city until details of the deal are worked out, plans to keep it as is and use it for sporting events.
The company wants to refurbish the Stadium and use it for men's Major League Soccer and women's professional soccer teams.
The city has tried repeatedly to sell the 80,000-seat domed stadium since the Lions left in 2002 to move to Ford Field in Detroit.
The city said it spends about $1.5 million annually to maintain the empty structure.