Pegula Bills stadium proposal asks for project that is fully funded by public
- Oops!Something went wrong.Please try again later.
- Oops!Something went wrong.Please try again later.
The latest update involving the future home of the Buffalo Bills very much involves the issue’s financial side. Who’s going to pay for it?
Previously reported in recent weeks was the team’s desire to build a new stadium where the current one, Highmark Stadium, stands.
Prior to that, it was debated whether or not the Bills should do that, continue to renovate their current venue, or potentially build a new one in downtown Buffalo.
With the Orchard Park idea seemingly solidified via reports, paying for that project has now come into the spotlight. On Sunday, the Buffalo News shed light on that topic. Per the outlet, Bills owners Terry and Kim Pegula have proposed that taxpayers pay for 100 percent of the project.
Per the BN:
Preliminary talks have begun between the owners of the Buffalo Bills, the State of New York and Erie County as officials consider a pitch by the team to build a new NFL stadium.
In fact, it’s one of the largest asks for public money in pro sports stadium negotiations: Pegula Sports and Entertainment, the team’s owners, have pitched a $1.5 billion proposal for a new stadium in Orchard Park.
Overall, that $1.5B figure will be split. $1.1B will go to the Bills and the construction of their new stadium in Orchard Park. The rest would go to the Buffalo Sabres, the professional hockey team in the NHL also owned by the Pegulas.
Their stadium, KeyBank Center in Buffalo, would see renovations as well.
The report goes on to say that the state is currently not on board with having taxpayers fund the entire project. That is not shocking in the least bit.
That’s because the BN also notes that most stadiums are not so heavily taxpayer funded… with that number usually falling somewhere between 40 and 70 percent taxpayer funded.
Considering that, the Pegulas know the reality of the situation: That’s not going to happen. We’re seeing some early negotiations and such conversations are probably not anywhere near their conclusion.
Bills Wire will continue to follow the stadium topic as it unfolds. Check back for future updates.
