The Buffalo Bills want a new stadium fully funded by New York State taxpayers — and they’re reportedly threatening to leave if they don’t get it.
Austin, Texas has emerged as a potential destination for the NFL team should owners Kim and Terry Pegula not find a satisfactory deal in Buffalo.
- The Pegulas proposed $1.5 billion in total funding, according to The Buffalo News.
- Of that sum, $1.1 billion would fund the Bills’ new stadium, and hundreds of millions would go toward renovating the Buffalo Sabres’ KeyBank Center. The Pegulas own both the team and the arena.
- A spokesperson for Pegula Sports and Entertainment denied that funds would be used for the KeyBank Center and disputed the $1.1 billion figure.
The Bills’ current lease expires in 2023. In March, Highmark Health took over naming rights for the team’s current stadium, another Pegula property. Terms were not disclosed, but the team had been shopping the rights for $6 million per season.
Whether or not the Bills leave, the Pegulas are deeply ensconced in the area.
The couple also owns the National Lacrosse League’s Buffalo Bandits and Rochester Nighthawks, the Rochester Americans of the American Hockey League, and an arena in Rochester.