A new stadium in Buffalo is one step closer to happening, with the team formally submitting the final contractual agreements to the county and state. On Tuesday, the detailed 30-year release was sent. Erie County now has 30 days to review and make any ratifications to the proposed open-air stadium.
If the county approves, the Bills will be able to begin the stadium building process. The stadium is expected to cost over $1.5 billion, more than the original budget of $1.4 billion, and hold more than 60,000 people, according to the Associated Press.
“Today marks another significant step taken as we approach a groundbreaking ceremony later this spring,” the Bills, state and county said in a joint statement. “We are thankful for the public/private partnerships we have shared to make this project in Western New York a reality.”
Such a major project will take some time, as the team is aiming to have the new Bills’ home ready by the 2026 season. The new stadium would be located across the street from where the Bills play now in Orchard Park, New York.
On the Bills official website, they describe the new stadium, saying, “The Bills, in conjunction with Legends and stadium architectural firm Populous, have left no stone unturned in covering every innovative element of new stadium design. The exterior stadium image highlights the team’s desire for a visual identity that reflects some of the historical architecture of Buffalo, while also delivering a modern appearance.”
The Bills have released renderings of the new stadium in Twitter posts, giving a first look at what the project will look like.
The NFL and the Bills agreed to contribute $500 million and Buffalo owners Terry and Kim Pegula will be committing $350 million. The Bills will be financially responsible for any construction that goes over $1.4 billion.
The state will give $600 million for construction costs and $280 million for maintenance and operational costs during the three-decade long deal. The state and county originally shared control of the stadium, but the agreement has the state taking sole control.
The agreement includes a 30-year lease with a non-relocation clause. The Bills would have to return all public funding in the first 14 years of the deal, with the pay back amount diminishing in the last 16 years of the agreement. It extends the lease of the current stadium until July 31, 2028.
The agreement includes the Bills committing to giving back to the community, with a yearly $3 million contribution towards social, education and the economic health of the local area.
The current Bills stadium opened in 1973. The decision was that a new stadium made more sense financially than renovating what is there now.
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Author: Shanna McCarriston
April 5, 2023 | 5:08 pm
