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

[Radar]

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!!  

[OldTimeAFLGuy]

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..........

[Augie]

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! 

[3rdand12]

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.

 

[Mr. WEO]

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....

[Best Player Available]

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? 

[BillnutinHouston]

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. 

[BringBackOrton]

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?

[Cheektowaga Chad]

The pegulas trying to get some sort of funding for the new stadium

 

With them owning the sabres also, it will be difficult to play the we will move the team angle

[Mat68]

With NE built into the ground its my understanding there are a number of issues that will never be solved that would bring it to state of art.

[NoSaint]

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 May 23, 2018 by NoSaint

[papazoid]

NFL Stadium Funding Info

 

https://cbsminnesota.files.wordpress.com/2011/12/nfl-funding-summary-12-2-11.pdf

[YoloinOhio]

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. 

[Punching Bag]

18 minutes ago, BringBackOrton said:

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

 

No one should. No reason for a new stadium.

[BuffaloBaumer]

Upgrade the bathrooms and be done with it

[oldmanfan]

22 minutes ago, BringBackOrton said:

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

A lot of people in a lot of cities ask the same question

[BadLandsMeanie]

42 minutes ago, 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

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

[stinky finger]

3 hours ago, nucci said:

Why do other teams build new stadiums then?

 

Why do birds sing so gay?

[Mr. WEO]

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.

[BringBackOrton]

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.  

[sven233]

There should be plenty of money flying around when all of this gambling stuff gets going.  The state will have a huge new revenue stream and I am sure the league and teams will benefit greatly as well.  The league makes BILLIONS every year as it is and the revenue will only keep growing.  It's up to the rich people to figure out a rich people's problem.

[Turk71]

3 hours ago, Jay_Fixit said:

There’s plenty wrong with it.

 

Signed, 2018.

Fix it, Jay Fixit

Edited May 24, 2018 by Turk71

[LabattBlue]

1 hour ago, Limeaid said:

 

Buffalo will never get a Super Bowl.  They do not have enough hotel rooms and neither putting hotel barges on Niagara river or using hotel rooms in Niagara Falls, Canada count.

 

Renovation Priorities IMO:

• The structural issues should be looked at
• Upgrade the field so they could try to reduce number of injuries
• Modify entrances so to prevent the traffic jams which have happened in past

Considering Lake Erie is frozen over in February, even if they wanted to, bringing in "floating hotels" would be out of the question.  

[Doc Brown]

Have Mexico pay for it.

[Punching Bag]

Just now, LabattBlue said:

Considering Lake Erie is frozen over in February, even if they wanted to, bringing in "floating hotels" would be out of the question.  

 

I was not considering houses like they use in ice fishing hence reason I cited Niagara river not Lake Erie. Grew up in WNY and fished on Lake Erie including the winter.

[LabattBlue]

Just now, Limeaid said:

 

I was not considering houses like they use in ice fishing hence reason I cited Niagara river not Lake Erie. Grew up in WNY and fished on Lake Erie including the winter.

Well how else would you get to the Niagara River without going through the Lake? LOL

[4_kidd_4]

Good.

 

Love the gameday atmosphere in OP.

[Punching Bag]

1 minute ago, LabattBlue said:

Well how else would you get to the Niagara River without going through the Lake? LOL

 

Well I did say barges which could be towed but the whole point was in past someone cited Jacksonville as a example of team getting Superbowl without adequate number of rooms.

It used extra housing on river/ocean to boost room stock for game.

[4_kidd_4]

Also, “Bills Island” or gtfo.

[Dablitzkrieg]

I hope all of you rich bastards got $100,000 for PSL's. Good luck filling the stadium if it comes to that

[jahnyc]

I think the NFL will be difficult about the stadium.  I have no idea what kind of leverage they have in this situation, but Goodell has raised the stadium issue a number of times and I think NFL may do something to force the issue at some point in the future if no progress is made towards a new stadium or significant upgrade of the current stadium.

[baskingridgebillsfan]

17 minutes ago, sven233 said:

There should be plenty of money flying around when all of this gambling stuff gets going.  The state will have a huge new revenue stream and I am sure the league and teams will benefit greatly as well.  The league makes BILLIONS every year as it is and the revenue will only keep growing.  It's up to the rich people to figure out a rich people's problem.

gambling and weed the streets should be paved with gold   

1 minute ago, jahnyc said:

I think the NFL will be difficult about the stadium.  I have no idea what kind of leverage they have in this situation, but Goodell has raised the stadium issue a number of times and I think NFL may do something to force the issue at some point in the future if no progress is made towards a new stadium or significant upgrade of the current stadium.

i agree.  I think the league can f with you in subtle ways, like when your home games are held, and how your schedule is set up 

[DriveFor1Outta5]

3 hours ago, Buffalo03 said:

I don't understand why the NFL wants us to have a new stadium so bad. Our stadium may be old and outdated but it's not as old as some stadiums in the league. Lambeau Field was built in the 1950's and you don't ever hear anyone saying the Packers need a new stadium. Same with Soldier Field in Chicago. Those stadiums are older than our stadium which was built in 1973. They recently updated Soldier Field and that's ok but we update New Era Field and it's not good enough? Doesn't make sense

Yeah, and why is it ok to play a future Super Bowl in New Orleans if new stadiums are so crucial? 

[Steptide]

Let's start a 5 year go fund me. We can raise the money 

[Doc Brown]

I like the canopy they put up in Miami.  Maybe I'm getting old, but I don't like roasting in the sun in the beginning or September or when it's raining and 33 degrees outside in December.

[Punching Bag]

30 minutes ago, baskingridgebillsfan said:

i agree.  I think the league can f with you in subtle ways, like when your home games are held, and how your schedule is set up 

 

Like the NFL already did THIS year.

[GG]

2 hours ago, Mark Vader said:

Levi's or Candlestick? And why the worst?

 

Levi's.  Worst amenities and crowd flow.  Literally 1 hour wait at the concessions. 

[Captain_Quint]

3 hours ago, john wawrow said:

 

yes. the pegulas are spanos.

it's exactly the same situation.

they're packing it all up and moving everything. the bills. sabres. harborcenter. even going to confiscate the sod they put down at canalside and take that with them.

 

smh

 

jw

I dont know who I'm more pissed at, Pegula or Dunkirk Don. 

 

Follow the money my a$s!

 

[DanInUticaTampa]

If the next set of rennovations will be 600 million + might as well get a new stadium instead. I dont think this is something that needs to be done right away. And for a new stadium I dont see why it cant be more like a hienz field type stadium (more affordable) and has to be like these super fancy ones

[CEN-CAL17]

I don’t understand the planning of all this....

 

Been a fan for 30 years, seems as if the talk of a new stadium has been talked about for half that time. So over the last 10-15 years the city of Buffalo, the Team with ticket sells, state of New York etc... could have created a tax credit, like raised the price of a ticket 5-10% and that tax would go towards a future stadium. State could have done something similar.

 

Its poor planning, poor investing etc. 

 

If measures were taken 15 years ago  I feel a $1B stadium could be half paid for.