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New "ironclad" Stadium deal reached


jletha
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Where it comes from (per Buffalo News):

 

• $600 million: State investment. To be included in the state budget. Not clear whether it’s a one-time payment or whether it will be borrowed this year and paid back over time. The state has different methods for paying back the bonds.

 

• $250 million: Erie County contribution. Not clear how the county will finance its share of the stadium costs.

 

• $350 million: Buffalo Bills. Awaiting details on where the Pegulas’ portion of the costs will come from, but some will come from the sale of about 50,000 personal seat licenses to all season ticket holders, beginning around $1,000 apiece.

 

• $200 million: National Football League. The league’s owners approved financing at this level Monday through the NFL’s G-4 loan program. Most of the loan would be paid back through the visiting team’s share of certain ticket revenue.

 

This brings the upfront public financing for stadium construction to $850 million, or 61% of the cost.

Edited by Shake_My_Head
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19 minutes ago, 17islongenough said:

30 years seems like a long time to build a stadium


i can’t tell if that’s a joke or a Erich’s question.

 

30 yrs is the use lease to the new stadium.  
 

what happens first…they move or i am dead?

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1 minute ago, billieve420 said:

Seems like a fair deal all around especially with earlier estimates noting that NYS would be funding 1 billion.

Question is was that people blowing things out of proportion, or a calculated plan to make this number seem small.

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1 minute ago, Warcodered said:

Question is was that people blowing things out of proportion, or a calculated plan to make this number seem small.

 

Who knows probably makes it easier to swallow for NY residents who have no interest in football or the Bills. That money will eventually make it back to the state one way or the other in the form of jobs/taxes etc.. so a win for all sides and most importantly Bill's fans.

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39 minutes ago, Steptide said:

Wonder what 350M+ from the pegulas means

It means 550mil from the Pegula's...keeping in mind the 200mil from the NFL is only a loan from the NFL to the Pegula's, which they must pay back.

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12 minutes ago, LABILLBACKER said:

They will. I heard the foundation design will try to factor in wind issues. Along with some type of overhang. This is great news.

Someone in one of the 400 dome vs open air threads had a really nice explanation of how they messed up the wind modeling in the current stadium and I can’t remember which thread it was 😂

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22 minutes ago, CountDorkula said:

 

What does "Built For Buffalo" mean?

 

My interpretation/understanding of what this means is that the stadium will be of a scale suitable to a smaller market like Buffalo.  I won't be a $5 Billion palace like they built in LA with condos, office space, hotels, shopping malls, a lake, etc.  It won't have a 360 degree wraparound scoreboard.  It will have bars, restaurants, and luxury amenities, but not to the scale of a LA, Dallas, or Atlanta type of staduim.   It's unlikely to be hosting Super Bowls, Final Fours, College Football Conference Championship games, and the like, so it doesn't need to be built to accommodate those types of events.

 

In short, it will be nice, new and modern, but not over the top.

Edited by msw2112
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