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

[DrDawkinstein]

Has anyone asked her what happened to "digging another well"?

 

 

[Bobby Hooks]

9 minutes ago, Jay_Fixit said:

Lambeau went through an almost 300 million Reno. Has New Era come close to that?

 

No. 

 

But you can keep button mashing hoping to enact M. Bison’s Devils reverse if you want.

 

Ill be over here with a full power bar.

Obviously we would need to put some serious cash into the stadium, but people are acting like it’s gotta be a new stadium or bust. 

 

I don’t agree. And don’t you dare use street fighter against me! 

[SoCal Deek]

I'm always amused by these stadium conversations.  Everyone wants something nice so long as they don't have to pay for it. This does not make Bills fans cheap.  It makes them normal! All of this will be worked out in time. Lots of comments will be made in public and in private, the dance will be danced, and a solution will be found. The universe of solutions will include renovating New Era (again), building a New Stadium (somewhere), or moving the Team out of Buffalo (eventually). I can promise you this...the final solution will come down to money! How much and from what source? And again, that doesn't make anyone evil or cheap...it makes them normal. In the meantime, enjoy the dance.

[Guest Mike147]

27 minutes ago, Bobby Hooks said:

Obviously we would need to put some serious cash into the stadium, but people are acting like it’s gotta be a new stadium or bust. 

 

I don’t agree. And don’t you dare use street fighter against me! 

 

True, but the team can't keep using a band-aid solution to the stadium. Eventually they will either have to replace the stadium or do a significant renovation (i.e. like Chicago, Green Bay and Miami), otherwise the situation would become untenable. Perhaps the Pegulas can ignore any potential pressure from the NFL and ride out the storm in an ageing stadium that goes against the grain, but they are business people at heart and if another city offers to build them a palace like Las Vegas have for the Raiders it would be hard to ignore not only for them but for the NFL as well because they will likely make a push for it to happen. 

 

Hopefully this statement from Kim Pegula is just a warning shot and gives the people in power the incentive they require to get something done here in Buffalo because if this city and local area lose the Bills it would be a huge blow to the local economy. San Diego will survive because it's a hot spot for holiday makers, business people, and events. Buffalo on the other hand would suffer if the Bills left and fingers crossed the people in power know that and get something done be it significant renovations or a new stadium. 

[Jay_Fixit]

38 minutes ago, Bobby Hooks said:

Obviously we would need to put some serious cash into the stadium, but people are acting like it’s gotta be a new stadium or bust. 

 

I don’t agree. And don’t you dare use street fighter against me! 

Well most people are like Dhalsim.Terrible.

[whatdrought]

Seems like a pretty straightforward "ball is in your court" to the local government. They aren't gonna be Jerry and go nuts just to hang their name on a big ugly building. 

[major]

I’m proud of the pegs!! We, nor any franchise for that matter, needs a new stadium. Attendance is down across the league (reasons too many to list here). Why build??? NFL seems to be on a short life span anyway

[Mountain Man]

11 hours ago, BillsfaninSB said:

 

Sure I can. The Chargers wanted to move.  Plain and simple.   The value of the team increased a lot with move to LA.

 

But They didn’t have to move.  They could have got a new stadium in the County.  

Yes they did. Their stadium was horrendous. And no they couldn't have got one where they did. That was the point of them moving

[The Real Buffalo Joe]

21 hours ago, TheTruthHurts said:

I don't want to hear how Buffalo fans can't afford the modern NFL. Russ Brandon made it his job to do that.

They weren't/aren't charging the "modern NFL" ticket prices. Just paid damn near $100 a pop for nosebleeds for the Bills @ Texans game this October. 

 

The Bills are going nowhere. This is a toy for the Pegulas. Like he said when he bought the Sabres "If I wanted to make money, I'd go back to buying oilfields/" [paraphrased]. Not that they don't want to make money from the team(s), but they're not gonna leave a city they've already invested so much in to make a little more money.

[Klaista2k]

Didn't all the other perspective owners, for ex. Tom Golisano, have plans to build a new stadium in Buffalo?
 

If the Pegula's really don't plan on building a new stadium this feels like a pretty big deal.

 

 

Edited May 24, 2018 by Klaista2k

[K-9]

8 hours ago, Kirby Jackson said:

I think that it is primarily local (but some of both). The Bills need to create new area to monetize (like they did the gates a few years ago). A new stadium gives them a clean slate to create new areas, amenities and pricing. 

That’s why I value your expertise. A creative marketer can create revenue producing experiences for the fans. I still think corporate  dollars are critical though, and I worry about our market being tapped out in that regard.

[Kirby Jackson]

10 minutes ago, K-9 said:

That’s why I value your expertise. A creative marketer can create revenue producing experiences for the fans. I still think corporate  dollars are critical though, and I worry about our market being tapped out in that regard.

Yeah, I think that locally a lot of the corporate market is pretty tapped. They still have their regional efforts and they can leverage the Pegula business relationships. We had a minority owner here that was very influential. The day after he bought in the team sold something like 17 suites and 100 floor seats. He basically told his business contacts “here’s what you are going to do...”

[K-9]

3 minutes ago, Kirby Jackson said:

Yeah, I think that locally a lot of the corporate market is pretty tapped. They still have their regional efforts and they can leverage the Pegula business relationships. We had a minority owner here that was very influential. The day after he bought in the team sold something like 17 suites and 100 floor seats. He basically told his business contacts “here’s what you are going to do...”

Great point here! And while I’ve heard that old Buffalo money has been cool, if not resentful to the Pegulas investment in the area, I think they are uniquely positioned to leverage some other relationships. 

[26CornerBlitz]

 

[Peter]

7 hours ago, The Real Buffalo Joe said:

A nice as these benefits are, they take almost zero direct gameday on filed benefits into account when building these things. 

 

Actually, I can testify to the fact that these particular improvements retain the crowd noise.  I have never, never heard that stadium as loud as it was in the many games that I have attended to see any game up to the point they installed the canopy.

[3rdand12]

20 hours ago, Augie said:

 

 

Don’t sell me short! I’m awful in many other ways as well! 

I have always believed in you Augie ! Be all the awful you can be my Friend !
Inspired by your fine efforts here  ✔️

[OldTimeAFLGuy]

On 5/23/2018 at 6:08 PM, 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?

 

...nice job bud....there it is in a nutshell.....if my calculations are correct, interest payments are $30 mil/yr, an expense that affects the income statement.....the principal portion or debt service must be factored into cash flow (around $12 mil).....relying on your ticket price increase calculations, how or if does Buffalo/WNY support those numbers?....

[26CornerBlitz]

Erie County Executive Mark Poloncarz responded to Pegula’s comments on Thursday.

 

“I’ve been saying this for years,” Poloncarz wrote on Twitter. “Recently built stadiums are approaching $2 billion. That is a ridiculous amount of money to spend for just a stadium if you think about all the other needs a community has to address. I’m glad Kim Pegula said publicly what all with the team knew.”

 

The Bills have a lease at New Era Stadium through the 2022 season and can opt out after the 2020 season, although the team has said they do not plan to exercise that option. There is an $18 million renovation project in the works, but the question of what path the team takes beyond this lease will remain a question in the coming years.

[Boatdrinks]

9 hours ago, DrDawkinstein said:

Has anyone asked her what happened to "digging another well"?

 

 

I think that statement was in regards to the NHL team. NFL economics are a different story altogether than in hockey. Apples to oranges here. 

[beerme1]

10 hours ago, Bobby Hooks said:

Who ever said new era didn’t need work? You just creating conversations? 

 

“Facts, facts, facts...”

 

I can play play this game too, bananas are yellow, saying they’re not it flat out wrong! Facts, facts, facts! 

 

If bananas are yellow why is my Wegmans stand loaded with green bananas? Just sayin. ?

 

[Punching Bag]

22 hours ago, purple haze said:

After the fact, that  Super Bowl was considered one of the worst in the modern era due to that housing situation.  I don't think the league will be looking for a replay of that.

 

yes but some keep saying an advantage to new stadium is a Superbowl.

 

22 hours ago, JerseyBills said:

Keep the Ralph. 

Finally a coach realizing how great that home field can be ... It's a special place

 

Too bad Russ when he was in charge could not say such things as "there is no need for a new stadium in our market.  Those who are advocating such a stadium would be first to advocate Bills leaving WNY".

[PromoTheRobot]

On 5/23/2018 at 4:55 PM, nucci said:

But Terry said he'll drill another well if they need more money

 

That's true. And this is the first time this owner said "enough" when it comes to spending. Grant you it's a fortune we're talking about here.

Edited May 25, 2018 by PromoTheRobot

[Augie]

8 minutes ago, beerme1 said:

 

If bananas are yellow why is my Wegmans stand loaded with green bananas? Just sayin. ?

 

 

“Young people” shop there? That wouldn’t go over as well in Florida. Too much risk...

9 minutes ago, PromoTheRobot said:

 

That's true. And this is the first time this other said "enough" when it comes to spending. Grant you it's a fortune we're talking about here.

 

Technically, didn’t someone say he couldn’t make a profit if he paid $1.4B, and he responded “if I was trying to make money I’d drill another well”...or something like that.  I don’t think he promised endless resources from continued oil and gas work. Big distinction there. 

[Punching Bag]

16 hours ago, Coach Tuesday said:

 

That's just a Bay Area thing - those people LOVE waiting mind-numbingly in line for garlic fries for hours, missing half the game in the meantime.  And they don't even stand or yell during critical moments of the game.

 

Some on this board want more of this type of fan with a new stadium.

16 hours ago, Mat68 said:

Primetime games.  Overall, team wealth and value.  No differant than college.  As a proffessional athlete you want to be at the top.  Some colleges have better facilities than Buffalo.  

 

Go convince those rich school donors to fund Bills stadium and some spell checking software for posters.

[Jasovon]

21 hours ago, mattynh said:

 

Did you have some expectation that building a stadium correlates with winning?

Not so much the stadium but the training complex. I'm mostly enjoying the fact that despite all Jerry's money the cowboys still suck.

[PromoTheRobot]

8 hours ago, Augie said:

 

“Young people” shop there? That wouldn’t go over as well in Florida. Too much risk...

 

Technically, didn’t someone say he couldn’t make a profit if he paid $1.4B, and he responded “if I was trying to make money I’d drill another well”...or something like that.  I don’t think he promised endless resources from continued oil and gas work. Big distinction there. 

 

I just meant that the Pegulas have never before said something cost too much. Think of all the bad contracts they pay for players and coaches that were let go? It got me feeling like they were made of money and paying for a new stadium was no biggie. Obviously there are limits.

[Augie]

13 minutes ago, PromoTheRobot said:

 

I just meant that the Pegulas have never before said something cost too much. Think of all the bad contracts they pay for players and coaches that were let go? It got me feeling like they were made of money and paying for a new stadium was no biggie. Obviously there are limits.

 

Oh, I get that for sure. Apparently there is a point where the number of digits and commas gets even your every day multi-billionaire to the pucker point! 

[ALF]

All that matters the most to me is that the Bills stay here. Keep renovating , build more restrooms. Poll season ticket holders if they would pay much higher prices in a new stadium, even if it were a open air at present location.

[Mr. WEO]

11 hours ago, 26CornerBlitz said:

 

Erie County Executive Mark Poloncarz responded to Pegula’s comments on Thursday.

 

“I’ve been saying this for years,” Poloncarz wrote on Twitter. “Recently built stadiums are approaching $2 billion. That is a ridiculous amount of money to spend for just a stadium if you think about all the other needs a community has to address. I’m glad Kim Pegula said publicly what all with the team knew.”

 

 

 

There's the government's bluff call...

[SoCal Deek]

I’m curious. Rich Stadium’s construction cost was $20 million back in 1972/1973. If you factor in inflation what would that equate to fifty years later? I’ll bet it’s more than you’d think.

[Royale with Cheese]

19 hours ago, Jay_Fixit said:

Lambeau went through an almost 300 million Reno. Has New Era come close to that?

 

No. 

 

But you can keep button mashing hoping to enact M. Bison’s Devils reverse if you want.

 

Ill be over here with a full power bar.

 

I'm glad you brought up Street Fighter because it reminds me of how easy I could beat you with Vega.

[SoCal Deek]

I was wrong. It’s way LESS than I thought. According to a calculator I googled $20m in 1973 equates to $120m today. So...the figures they’re kicking around for a new stadium would’ve been something like $200 million in ‘73.  There’s no way!!

[Just Joshin']

22 hours ago, OldTimeAFLGuy said:

 

...nice job bud....there it is in a nutshell.....if my calculations are correct, interest payments are $30 mil/yr, an expense that affects the income statement.....the principal portion or debt service must be factored into cash flow (around $12 mil).....relying on your ticket price increase calculations, how or if does Buffalo/WNY support those numbers?....

It is actually worse.  My calculations assumed the Bills got 100%of the ticket increase.  They need to share the revenue so it is 40% more per ticket if the revenue share is 60/40.

[Orlando Tim]

I have not read every comment here but do remember that the last deal had a bribe for the government employees-a suite set aside for the state employees. I think Pegula is simply starting negotiations for the stadium with the state.

[Klaista2k]

On 5/24/2018 at 8:11 PM, 26CornerBlitz said:

Erie County Executive Mark Poloncarz responded to Pegula’s comments on Thursday.

 

“I’ve been saying this for years,” Poloncarz wrote on Twitter. “Recently built stadiums are approaching $2 billion. That is a ridiculous amount of money to spend for just a stadium if you think about all the other needs a community has to address. I’m glad Kim Pegula said publicly what all with the team knew.”

 

The Bills have a lease at New Era Stadium through the 2022 season and can opt out after the 2020 season, although the team has said they do not plan to exercise that option. There is an $18 million renovation project in the works, but the question of what path the team takes beyond this lease will remain a question in the coming years.

I'm sure we could build a new open air stadium for much less than 2 billion. 

 

Heinz field in Pittsburgh was around 280 million. 

[MarkyMannn]

Interesting in today's BN Kim is stated as starting a review now of replacing the hockey arena. WOW

[ColoradoBills]

On ‎5‎/‎24‎/‎2018 at 9:10 PM, beerme1 said:

 

If bananas are yellow why is my Wegmans stand loaded with green bananas? Just sayin. ?

 

 

101 now!

 

Edited May 27, 2018 by ColoradoBills

[judman]

Heinz field opened in 2001 at a cost of $288M in 2017 dollars (per Wikipedia). I’ve been there. Nice enough stadium at a reasonable price.

 

If the team wants new digs, it can be done reasonably. 

[H2o]

I know I'm late to the party here, and I don't know if this has already been said because I didn't read all 15 pages, but you know what would help with a new stadium if that is the route we are looking to go? Winning. Build a contender. Build a team that is continually in the playoffs and has a legit shot at the SB(by the grace of God winning one). We suddenly become more profitable in numerous ways not only to the area, but to the state and the NFL. Funding for a new stadium would be easier to come by then. 

[Punching Bag]

1 hour ago, H2o said:

I know I'm late to the party here, and I don't know if this has already been said because I didn't read all 15 pages, but you know what would help with a new stadium if that is the route we are looking to go? Winning. Build a contender. Build a team that is continually in the playoffs and has a legit shot at the SB(by the grace of God winning one). We suddenly become more profitable in numerous ways not only to the area, but to the state and the NFL. Funding for a new stadium would be easier to come by then. 

 

It was mentioned early in thread yes but posters reminded us that even the playoff games did not sell out when Bills were at height of Superbowl years.  The stadium was a bit larger but expect same thing would happen including late games not sold out late in season like NFL imposed on Bills (not a coincidence I think) this year.  Bills should try to find some "events" making stadium less available in December.