The Buffalo Bills plan to sell personal seat licenses to cover a portion of the cost to build a proposed new $1.4 billion stadium, according to The Buffalo News.
The team will sell a maximum of 50,000 PSLs at around $1,000 apiece, raising a minimum of $50 million in fees.
Purchasing a PSL will be required for every Bills season ticket holder.
- The PSLs will be transferable and can be resold to a third party.
- The licenses may also offer access to parking, food, drinks, and other amenities.
PSLs have been used to fund more than half of the NFL’s 30 stadiums, with every new venue opening since 2009 taking advantage of them.
Depending on the market and seat, PSLs can fetch an asking price of more than $100,000. A total of 20 of the NFL’s 32 franchises require season ticket holders to purchase PSLs.
The Bills’ new stadium proposal suggests a 17% reduced capacity (60,000 seats) compared to the team’s current home, Highmark Stadium, which seats 71,608.
The county committed $227 million toward extensive renovations at the venue in 2013. The Bills’ lease there — which includes a strict no-relocation clause — ends in 2023.
Highmark Health acquired naming rights for between $4 million and $6 million a year in March.