New "ironclad" Stadium deal reached

[Shake_My_Head]

38 minutes ago, boater said:

OK. Very cool. ONLY.. if that's an NFL dimensioned infield. If they build Highmark 2 with a soccer dimensioned infield, count me out.

 

Check this out.  The Jets and Falcons played thare last year and its cool how they could set up the field for football.

 

 

[Ned Flanders]

3 hours ago, PromoTheRobot said:

 

Why? Sounds like Hammer's all set.

Wouldn't the footprint move him out?

[HurlyBurly51]

Sorry to ask, I haven't waded through all the details.  But can you settle a debate?  Where did the study or studies recommend for the location of the stadium?  I thought it was OP, but a friend is saying downtown.  

[PromoTheRobot]

46 minutes ago, Ned Flanders said:

Wouldn't the footprint move him out?

 

The lots west of Abbot are large enough. If anything, Hammer's Lot will become even closer to the stadium. That said, some developer could bring a wheelbarrow of money to his door.

4 minutes ago, HurlyBurly51 said:

Sorry to ask, I haven't waded through all the details.  But can you settle a debate?  Where did the study or studies recommend for the location of the stadium?  I thought it was OP, but a friend is saying downtown.  

 

OP makes sense because the land is there to use. Going anywhere else you have to buy property, deal with local rules, angry NIMBY's, etc. I wish it were downtown, or even Amherst so they could share it with UB. But I get why OP.

[Mr. WEO]

Hochul going around saying the stadium will have an ANNUAL impact of “more than” $385 million!

 

Wtf, lol.  Shameless.

[Saxum]

1 hour ago, HurlyBurly51 said:

Sorry to ask, I haven't waded through all the details.  But can you settle a debate?  Where did the study or studies recommend for the location of the stadium?  I thought it was OP, but a friend is saying downtown.  

 

There were multiple studies. I am sure one connected to Buffalo said Buffalo was recommended.

It is like the commercials on TV where on one commercial a doctor recommends a product and on another recommends a different product for same use.

 

[badassgixxer05]

1.4B gets you a retractable roof right??? Asking for a friend...

[Saxum]

2 minutes ago, badassgixxer05 said:

1.4B gets you a retractable roof right??? Asking for a friend...

 

Tell your friend yes.  You get a roof but no stadium.

[JoPoy88]

27 minutes ago, Mr. WEO said:

Hochul going around saying the stadium will have an ANNUAL impact of “more than” $385 million!

 

Wtf, lol.  Shameless.

Lol. I love all these thin air numbers both the politicians and the league/team uses to justify this stuff. There’s independent research out there, all over the place, that shows the revenue impact is negligible.

[Beerball]

9 hours ago, Steptide said:

Wonder what 350M+ from the pegulas means

Likely already answered, but $50M to the league and any cost overruns. 

[LeGOATski]

As long as they can play football in it, I'm good.

[JakeFrommStateFarm]

Some interesting quotes from a NY times article:

 

The public dollars, which still need to be approved by lawmakers, would cover about 60 percent of the projected construction costs, a percentage that is slightly lower than in recent stadium deals in similarly small markets in the N.F.L. But the overall subsidy is the largest amount earmarked for an N.F.L. stadium since Clark County in Nevada issued $750 million in bonds to help pay for the construction of a new arena before the Raiders moved to Las Vegas in 2020.

 

Ms. Hochul, a Democrat, unveiled the agreement just four days before the state budget is due in Albany, giving lawmakers a relatively small window to scrutinize the details of the state portion of the financing that they must ultimately decide whether to approve.

 

The subsidy is bound to make the already fraught state budget negotiations even more contentious, with some left-wing Democrats from the downstate region already denouncing the public funding as corporate welfare.

 

Public assistance, in the form of tax breaks and free land, has been used to finance the construction of arenas for New York sports teams, but many of the teams, from the Yankees to the Mets, have financed most of the costs themselves. The Giants and the Jets, who play in New Jersey, paid for nearly all of their stadium, which opened in 2010.

 

https://www.nytimes.com/2022/03/28/nyregion/buffalo-bills-stadium-deal.html

 

Check out the comments under the article, lots of taxpayers extremely unhappy

Edited March 29, 2022 by JakeFrommStateFarm

[BuffaloBob]

9 hours ago, Mr. WEO said:

 

"Pegula 350+" means ..."from the season ticket holders"

No.  Poloncarz said the Pegula's will cover all cost overruns, so they contribute a minimum of $350 million, plus the overruns.  Of course, they may decide to offset those overruns with the seat licenses.

[ALF]

State and county funding by bond spread over 30 years should be doable.

[Captain Caveman]

10 hours ago, vanhalen26 said:

And PSL seat fees will probably pay the owner share.  Hopefully they kick in.  This asset (owning the team) is appreciating by billions for them.

PSLs will probably net somewhere between 50-100 million.  It's not nothing, but it's not covering the Pegulas share.  The 200$ million from the NFL is also a loan that the Pegulas need to pay back (I think I read it's supposed to come from away team ticket sales over the length of the deal.)

 

With all that said, I still very much wish ownership paid a bigger share and that NYS / Erie County (and taxpayers) paid less.

[PromoTheRobot]

17 minutes ago, BuffaloBob said:

No.  Poloncarz said the Pegula's will cover all cost overruns, so they contribute a minimum of $350 million, plus the overruns.  Of course, they may decide to offset those overruns with the seat licenses.

They aren't getting $350MM in seat licences. I will guess those are worth $120MM. ($2000 avg PSL X 60,000)

 

 

 

 

Edited March 29, 2022 by PromoTheRobot

[Just Jack]

10 hours ago, Steptide said:

Still don't understand the 2026 time frame. Is that worst case scenario? I feel like the stadium could/will be done before that, but what do I know 

 

The state can't even get a rest area on the Thruway completed in the 6 month time frame they estimated.  They need as much time as possible for a whole stadium. 

9 hours ago, BillsfaninChicago said:

Will said new stadium still have sink urinals still?

 

Any sink can be a urinal if you're tall enough. 

[BillsFan692]

8 hours ago, PrimeTime101 said:

Rich was built in 14 months.. why the wait? theres no reason this cant be done in 2 years... 

Basically will be they wont break ground until summer next year

1 hour ago, JoPoy88 said:

Lol. I love all these thin air numbers both the politicians and the league/team uses to justify this stuff. There’s independent research out there, all over the place, that shows the revenue impact is negligible.

Salary cap is 200 million per year and NYS has a 10% salary tax right?

 

Someone do math on 20x30(years) its almost the entire public funding and thats not counting non player personell and tons of other things like sales tax on sales etc.

Edited March 29, 2022 by BillsFan692

[Just Jack]

8 hours ago, Greg S said:

 

At the prices they are going to charge including PSL fee there will be many fans who get priced out unfortunately. They know this so that's why its 60-62K

 

That will probably be me.  I've got clubs now, and it's reached a point where I may let them go, just because of the price, and instead by on the secondary market for the games I want to go to. 

8 hours ago, Mat68 said:

Combine it with a full service massive bar and you will have many sign up for it. 

 

The Eagles stadium has a few areas set up like that, standing room only with a bar right there, out in the open.  

[Peter]

10 hours ago, 1ManRaid said:

Was really hoping for Tottenham stadium style covered seats.  That stadium is amazing.

 

North London is Red.

 

COYG