ORCHARD PARK, NY - AUGUST 14: Head coach Rex Ryan of the Buffalo Bills laughs with players before the game against the Carolina Panthers on August 14, 2015 at Ralph Wilson Stadium in Orchard Park, New York. (Photo by Brett Carlsen/Getty Images)
The Buffalo Bills have reached an agreement with New York State and Erie County for a new $1.4 billion outdoor stadium—with the state and county coughing up $850 million of the upfront cost—in Orchard Park.
Gov. Kathy Hochul (D) called the 30-year lease “ironclad.”
“We took another step today to solidify our collective goal of constructing a new stadium for the Buffalo Bills in Orchard Park,” said team owners Terry and Kim Pegula in a statement. “We are grateful for the time, efforts, and unwavering commitment made by Governor Hochul and her team throughout this process.
“While there are more hurdles to clear before getting to the finish line, we feel our public-private partnership between New York State, Erie County, led by county executive Mark Poloncarz, and the National Football League will get us there.”
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New York state will contribute $600 million and Erie County $250 million, while the NFL will provide a $200 million loan to the Bills with $150 million forgivable with repayment via the visiting teams’ share of ticket revenue over 25 years. The deal met with outrage among good government activists.
The Pegulas are contributing at least $350 million toward construction.
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