Bills look for debt waiver as stadium costs rise

[BarleyNY]

I said it when the details of the stadium deal were made public - the smartest facet of the deal on the part of Hochul/NY state was that Pegula would be responsible for cost overruns. It looks like $800M in overruns will be borne by them versus the taxpayers. Guessing the sale of 10% of the team will eventually cover most of that. 

 

https://www.sportsbusinessjournal.com/Articles/2025/03/06/bills-seek-650-million-debt-waiver-as-stadium-costs-creep-upward-again/?issueId=7DNGCRPR7NEGRHNA2O7LOH5EM4

 

“The Bills are seeking an exception to NFL debt limits to borrow $650 million to fund construction of the new Highmark Stadium, where costs continue to climb far beyond the original budget, sources said.

According to the Bills’ request, per sources, the stadium will now cost $2.2 billion -- that’s up $100 million from the last official reportsfrom Erie County Stadium Development Corp., and now $800 million higher than the original estimate of $1.4 billion.”

[scuba guy]

It was already posted in the stadiums thread op.

[BarleyNY]

13 minutes ago, scuba guy said:

It was already posted in the stadiums thread op.

missed that. mods feel free to merge/delete

[Boatdrinks]

Crazy that it’s $2.2B and no roof. Not a huge fan of dome/ retractable stadiums but just doesn’t seem like the value is there. 

[Don Otreply]

13 minutes ago, Boatdrinks said:

Crazy that it’s $2.2B and no roof. Not a huge fan of dome/ retractable stadiums but just doesn’t seem like the value is there. 

You’re right, the value isn’t there, 

[dwight in philly]

1 hour ago, scuba guy said:

It was already posted in the stadiums thread op.

So What 

[SoonerBillsFan]

This has been nothing but a cluster.

[SectionC3]

5 minutes ago, SoonerBillsFan said:

This has been nothing but a cluster.

I bet Ron Raccuia isn't getting a Christmas card from the Pegulas anytime soon. 

[Niagara Dude]

Sound like this has been poorly managed or contractors overcharging,  the Bills should be getting a done for the net final price

[BuffBillsForLife]

Will it still look like a bedpan when it's finished?

[JakeFrommStateFarm]

36 minutes ago, Boatdrinks said:

Crazy that it’s $2.2B and no roof. Not a huge fan of dome/ retractable stadiums but just doesn’t seem like the value is there. 

I wonder if it's because they are using union labor at 40-50 per hour and American steel and materials which are far more expensive than imported materials ?

[SoonerBillsFan]

13 minutes ago, JakeFrommStateFarm said:

I wonder if it's because they are using union labor at 40-50 per hour and American steel and materials which are far more expensive than imported materials ?

That and all these groups they are forced to hire due to the stupid contract they signed with the State.  

[HereComesTheReignAgain]

26 minutes ago, SoonerBillsFan said:

This has been nothing but a cluster.

How so?  As long as it gets built, I couldn't care less how much it costs.  

[SoonerBillsFan]

Just now, HereComesTheReignAgain said:

How so?  As long as it gets built, I couldn't care less how much it costs.  

Those costs WILL get passed on to the fans somehow.  Right now they can't sell PSL's worth a damn.

 

[BarleyNY]

40 minutes ago, SoonerBillsFan said:

Those costs WILL get passed on to the fans somehow.  Right now they can't sell PSL's worth a damn.

 

Pegula will maximize his earnings. How much he has to sink into the stadium is irrelevant to that. This isn’t a cost plus model. 

[Steptide]

The nfl pushed hard for this. They should help with the over runs. 

[SectionC3]

1 hour ago, Niagara Dude said:

Sound like this has been poorly managed or contractors overcharging,  the Bills should be getting a done for the net final price

Inflation. 

50 minutes ago, SoonerBillsFan said:

Those costs WILL get passed on to the fans somehow.  Right now they can't sell PSL's worth a damn.

 

The threat has been (it was made to me) that "Toronto" will buy them all.  Likely empty, and I bought anyway.  But certain news items of late may dampen the enthusiasm of purchasers from that area. 

[brianthomas]

i wonder how much the factor of tariffs is playing into cost overruns.

But by the time this stadium is completed, it may be twice as expensive as what was 1st estimated.

I understand there will always be factors that add on cost, but that seems pretty excessive a difference.

[klos63]

1 hour ago, JakeFrommStateFarm said:

I wonder if it's because they are using union labor at 40-50 per hour and American steel and materials which are far more expensive than imported materials ?

$45 average rate for the construction workers sounds great to me.  Seems like a fair wage for skilled labor on such a big project. 

[Matt_In_NH]

2 hours ago, Boatdrinks said:

Crazy that it’s $2.2B and no roof. Not a huge fan of dome/ retractable stadiums but just doesn’t seem like the value is there. 

2.2 billions does not buy what it did 6 years ago