NFL unanimously approves proposal for Buffalo Bills’ new $1.4 billion stadium, while the team also reached an agreement with the State of New York and Erie County on a new 30-year lease for the stadium.
The agreement is for a 30-year lease on the stadium that is set to begin in 2026.
“We took another step today to solidify our collective goal of constructing a new stadium for the Buffalo Bills in Orchard Park,” Bills owners Terry and Kim Pegula said in a statement. “We are grateful for the time, efforts and unwavering commitment made by Governor [Kathy] 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.”
The NFL and the Bills will contribute $550 million to match a combined $850 million in public funding. $600 million will come from New York state, while Erie County is set to provide $250 million. The economic and tax impacts generated from the team will support more than 100% of the public share of the cost.
NEW: New York State officials reached a deal with the Buffalo Bills for a new $1.4 billion stadium using $850 million in public funds, the largest taxpayer contribution ever for an N.F.L. stadium.https://t.co/UUaayXjx0E
— Luis Ferré-Sadurní (@luisferre) March 28, 2022