Details are falling into place for the Buffalo Bills’ new stadium.
New York State is expected to lead the funding for a $1.4 billion venue in Orchard Park, with contributions from the NFL and team owners Kim and Terry Pegula.
- New York is expected to chip in around $850 million in its state budget, which will be finalized on April 1. NFL owners could potentially vote on a proposal at the league meetings from March 27-30.
- The team can take out a $150 million loan from the league, repaid to the other 31 teams through visiting teams’ shares of Bills ticket revenue.
- To access that loan program, the Pegulas must commit at least $200 million, which can partly come from selling personal seat licenses to season-ticket holders.
The stadium was initially left out of the state’s $216.3 billion budget during negotiations. The current lease expires in 2023.
The Pegulas have threatened to move the team to another city if they don’t get a deal they like, with Austin, Texas, named as a possible destination.
“Teams have other options,” New York Gov. Kathy Hochul said.
The new open-air stadium, planned for the area right next to Highmark Stadium, could open by 2026 and seat 60,000-62,000 — plus another 5,000 standing-room spots.
A survey found that 70% of Bills fans are happy with the stadium plans, though only 33% approved of the decision to have an overhang instead of a roof.