‘One consistent thread across the two decades is that teams in smaller NFL markets received more direct public aid, with that money accounting for an average 73% of stadium costs in those markets.’
Archives for March 2022
NFL owners, execs praise deal to finance new Bills stadium as win for small-market teams
‘“That was a decision that they made and I give them credit for working so hard and getting it done,” Las Vegas Raiders owner Mark Davis told The News, two years after moving his franchise from Oakland, Calif., for the second time in its storied history. “I give credit to Hochul for being aggressive and coming in and saying, ‘Yeah, we understand what the NFL means to our community and we’re going to invest in it.’”’
New Buffalo Bills stadium would be owned by New York State
‘As part of an agreement to build a $1.4 billion open-air stadium in Orchard Park, the new facility and the land will be owned by New York State, according to Hochul’s office. The Erie County Stadium Corp., or ECSC, a state entity subsidiary of the Empire State Development Corp., would lease the stadium to the Bills.’
Who pays for what? Here is how the costs break down for new Buffalo Bills stadium
‘The Buffalo Bills would pick up cost overruns on the project.’
A decade in the making: A timeline of how the Buffalo Bills stadium deal happened
‘The Buffalo Bills, Erie County and New York State engage in ongoing lease negotiations for then-Ralph Wilson Stadium. The venue, which opened in 1973 and was first known as Rich Stadium, was nearing 40 years old and would need extensive renovations, which were a key subject of the discussions. State officials floated the idea of building a new stadium, but Bills founder and owner Ralph Wilson, who was then 93, didn’t want to commit the franchise to a long-term deal. Knowing the team would be sold upon his death, he preferred a shorter lease that was strong enough to keep the Bills from moving, and also deferred decisions on a new stadium to the next owners.’
Community benefits agreement for new Buffalo Bills stadium still to be hammered out
‘A community benefits agreement, in this case, would likely guarantee that the Bills organization would contribute money back to the community. Those are often typically in the form of contributions to various community organizations and agencies in exchange for public money being spent on what is essentially a private sports enterprise.’
The Editorial Board: The Bills are staying, and the stadium deal is good for all
‘With this deal, the Pegulas are once again making clear their commitment to Buffalo. With the league, they are putting up a greater share of construction costs than the average of small-market projects over the past 20 years. More than that, they are forgoing hundreds of millions of dollars that would be theirs by moving to a city thirsting for an NFL team while simultaneously adding to the team’s value. They deserve the community’s thanks.’
Bears GM has two-word response to Bills matching Ryan Bates’ offer sheet
‘The news certainly does stink for a Bears team trying to improve their offensive line. While Poles is likely disappointed with the news, Buffalo should be ecstatic with being able to have Bates–a lineman who can play all five spots–in the fold for the next two to four seasons.’
Stefon Diggs getting new contract this offseason? Bills GM weighs in from NFL Annual Meeting
‘“Stef and I have talked a couple times,” he said. “We’ve been very open and honest with each other.”’
When will construction begin on new $1.4 billion Buffalo Bills stadium?
‘“What I’ve learned in this process is there’s really not a break ground day,” Raccuia said. “I think what people tentatively think of break ground is probably next spring. But we’ve started work on this weeks and months ago. I think starting next week there’s some breaking of ground on the site. But I would say officially, when there’s a big hole in the ground, it’s probably April or May of next year.”’
Hochul backs plan for state to invest $600M in Buffalo Bills stadium
‘The biggest hurdles for the project could come in the form of politically strange bedfellows: progressive Democrats generally opposed to what they call “corporate welfare” and conservative Republicans who have traditionally frowned on using taxpayer dollars for projects benefiting private investors.’
What’s in agreement to build new Buffalo Bills stadium?
‘The state will own the new stadium and the surrounding complex, which will then be leased to the Bills. (The terms of the lease weren’t fully disclosed.) The state will also take over ownership of Highmark Stadium and the team’s practice facilities.’
Deal! Buffalo Bills getting new $1.4-billion stadium next door to old digs
‘The team also agreed to a strict new 30-year non-relocation agreement.’
Buffalo Bills Strike Deal for Taxpayer-Funded $1.4 Billion Stadium
‘Under the deal, the state would finance $600 million of the construction costs, while Erie County, where the stadium will be built adjacent to its current home, would cover $250 million. The remainder would be financed through a $200 million loan from the N.F.L. that was approved on Monday, plus $350 million from the team’s owners.’
Hochul commits $600 million in state funds for new Buffalo Bills stadium as budget talks continue
‘“I’m pleased that after months of negotiations, we’ve come out with the best answers possible – the Bills will stay in Buffalo for another 30 years, the project will create 10,000 union jobs, and New Yorkers can rest assured that their investment will be recouped by the economic activity the team generates,” Hochul said in a statement.’