The Buffalo Bills cleared the last major hurdle to building a new stadium in their longtime home after Erie County legislators voted to approve a memorandum of understanding between the county, team, and New York State.
The unanimous vote secured $250 million from Erie for the $1.4 billion project.
- New York will kick in $600 million, after Gov. Kathy Hochul secured funding in the state’s annual budget.
- NFL owners will loan the team $200 million, which will be paid back through ticket sales provided to visiting teams over the coming decades.
- Team owners Kim and Terry Pegula will cover the balance of the costs, an estimated $350 million.
The county injected some uncertainty in the process last month when lawmakers insisted on a community benefits package including job opportunities and transportation to the stadium as part of the deal.
License to Sit
Much of the Pegulas’ portion will be covered by personal seat licenses, which could range from $500 to $16,500, according to a survey sent to fans.
Seat licenses, which allow fans to purchase season tickets for a certain seat in the stadium, can cost NFL fans as much as $100,000 in markets like Dallas, Los Angeles, and Las Vegas.
