BUFFALO, NY (AP) — The Buffalo Bills took a big step closer to breaking ground on their new stadium on June 1 after formally submitting final contractual agreements — including a detailed 30-year lease — to the county on Tuesday submitted.
The Erie County legislature now has 30 days to review the documents and ratify the agreement. The county’s approval would pave the way for construction of the now-planned $1.5 billion, more than 60,000-seat facility across the street from the current Bills Stadium in Orchard Park, New York. The cost of the facility has increased from the original estimate of $1.4 billion.
Most of the construction of the outdoor stadium is expected to be completed in time for the 2026 season.
The final agreements were negotiated by the accounts, state and county, and posted on the county’s website. The details of the agreement were finalized just over a year after the three parties reached a tentative deal on the project, which included a taxpayer pledge of $850 million — the largest public price tag for an NFL facility.
The NFL, through its G4 loan program, and the Bills agreed to commit $550 million in funding, with team owners Terry and Kim Pegula sharing $350 million, much of which was offset by the team introducing seat licensing for season ticket holders. The bills are also responsible for covering any construction overruns of more than $1.4 billion.
“Today marks another important step as we approach a groundbreaking ceremony later this spring,” the state and county bills said in a statement.
The notable details in the final agreements include a 30-year lease with a no-relocation clause in which the accounts would have to repay all government funding during the first 14 years of the deal. The payback amount decreases during the last 16 years of the agreement.
The deal includes a community benefits agreement in which the accounts will commit $3 million annually to social, educational and economic health of the region. The bills also agreed to include a public transportation hub, as well as sidewalks and paths for fans and employees to access the facility.
The agreement also extends the lease of the current stadium until July 31, 2028.
The state is committing $600 million to construction costs and another $280 million to cover maintenance and operating costs over the 30-year period. The state takes full control of the new stadium after previously sharing the lease with the province.
The new facility will replace Bills’ current stadium, which opened in 1973 and was deemed too expensive to renovate. A state study in November 2021 estimated renovation costs at $862 million.
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