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Kim Pegula on a New Stadium: "I Don't Even Know If We Can Get There"


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2 hours ago, Guffalo said:

She has a good read on the fanbase. She is realistic in assessing the general feeling of the fans. Do we want a new stadium? , sure, Do we want to pay for it through higher ticket prices , PSL's and increased taxes? , Probably not. She knows the landscape she is up against. Smart owner.

Agree except for the point "do we need a new stadium?". Personally, NO!!  

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Just now, Mr. WEO said:

They don’t have the money?  

 

I read here that that they had north of 4 billion cash before they bought the Bills

 

 

...yes they do...so do the math and figure out why from an investment perspective they should fork over a billion for a new stadium....do your pro formas including cash flow for debt service, as well as PSL's and ticket price increases.....don't forget the Buffalo/WNY economy of scale and whether your numbers support the stadium venture..........

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5 minutes ago, Kirby Jackson said:

Quick side story that you may find interesting.  In New Orleans when they built the arena they basically used the Superdome and scaled it down. It was (and is) a terrible decision for a basketball arena. There are roughly 17,000 seats and about 10,000 of them are upstairs. You can get anywhere from $60 to $250 downstairs (floors excluded) and about $10 to $40 upstairs. They really missed the boat on the design. They should have had more rows downstairs, especially on the ends where you can get “cheaper” seats and less rows upstairs. One more fun fact about the arena build, they forgot to put the box office in when it was originally built. They were pretty much done and had to blow out a wall in a hallway to create something (and it was awful). It has since been renovated.

 

That is amazing.....in the worst possible way! 

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36 minutes ago, Kirby Jackson said:

Curse you @Augie for dragging me in on these conversations!! I was trying to stay out!! I just can’t help myself...

he is rather awful in these matters. but he is ours.

32 minutes ago, atlbillsfan1975 said:

We will need to worry about them moving in 30 years. At that point a bunch of us on here won’t be around to care. 

i have Grands !
Thinks of the Children, and the Future !

 

10 year or less plan is best.

 

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6 minutes ago, OldTimeAFLGuy said:

 

 

...yes they do...so do the math and figure out why from an investment perspective they should fork over a billion for a new stadium....do your pro formas including cash flow for debt service, as well as PSL's and ticket price increases.....don't forget the Buffalo/WNY economy of scale and whether your numbers support the stadium venture..........

 

I was specifically discussing cash. So no debt service, no PSLs....

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2 hours ago, The Real Buffalo Joe said:

It would most likely be multi purpose. Attract concerts. Super Bowl. Probably an annual college bowl game. National conventions. Not saying I support it, but it would be much more than just Bills games played there. 

Really a Super Bowl? Would the tens of thousands of visitors stay at the Embassy Suites?  

Then take the subway too the stadium? 

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1 hour ago, Dalton said:

So a bit of math:

 

Stadium cost:                    $750 Million

Down Payment:                 $160 Millions (20%)

 

Useful life of Stadium:      30 years (very conservative)

Interest Rate:                      4%

 

Yearly Payments:               $42,967,368  

# events:                              10

Tickets sold/event:            75,000 

Cost per ticket:                   $57/game excluding down payment cost

 

So is the fan base willing to pay and additional $57 per game all other things being equal?

 

Some would, most wouldn't. 

 

Russ said long ago that Bills football is a volume business.  He was right. 

 

If I owned the team I'd consider the old maxim, "first do no harm".  Making a mistake by going greedy with a pricey stadium could put an end to the "volume" and put the whole franchise in jeopardy. 

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15 minutes ago, OldTimeAFLGuy said:

 

 

...yes they do...so do the math and figure out why from an investment perspective they should fork over a billion for a new stadium....do your pro formas including cash flow for debt service, as well as PSL's and ticket price increases.....don't forget the Buffalo/WNY economy of scale and whether your numbers support the stadium venture..........

lol if it's a bad investment, why should the taxpayers pay for it?

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3 hours ago, Coach Tuesday said:

This is just the opening salvo of a long dance between ownership and the various governmental players.  Best not to get too excited or agitated about statements like these - there is a long way to go.

 

In the meantime, Kim should focus on improving the fan experience as well as the product on the field.  Bills fans have shelled out hard-earned money for a horrible product for decades, well beyond what most fanbases would’ve put up with. Start winning some games and then maybe there will be a bigger appetite for ticket hikes and even maybe PSLs.

 

Yup. 

 

This is a multi year public negotiation. Can’t ride the roller coaster of every comment. At some point all parties will have to throw in money though or you will start to see the comments escalate and possibly even an actual move, though not likely. If the teams winning and an icon of the region it’ll be much easier to bring everyone on board. 

Edited by NoSaint
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3 hours ago, corta765 said:

 

Naw its part of the political ploy to get money state wise. They start off making overtures like this that gather public support and then announce their plans etc.. And with due respect the Chargers matter squat to their area compared to the Bills in Buffalo. The people in SD had zero issue not approving the stadium plans.

There was some kind of public vote in SD on either they would rather keep Comic Con or the Chargers. They picked Comic Con. 

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Just now, BadLandsMeanie said:

Cash? He is worth 5 Billion overall if I remember correctly. 4 billion in cash is different.

 

Yes, cash. He got $4.7 billion cash for East Resources.

 

And Tepper just laid out 2.2 billion for Carolina—team only.

 

If this is some play by the Pegulas (“we just don’t HAVE that kind of money”) to squeeze the county or state....just say no, taxpayers.

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Just now, Mr. WEO said:

 

Yes, cash. He got $4.7 billion cash for East Resources.

 

And Tepper just laid out 2.2 billion for Carolina—team only.

 

If this is some play by the Pegulas (“we just don’t HAVE that kind of money”) to squeeze the county or state....just say no, taxpayers.

Of course it is.  

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