Simon Says Posted March 31, 2022 Share Posted March 31, 2022 22 minutes ago, Steptide said: Forgive my ignorance, but why wouldn't the pegulas wanna pay for it themselves? Wouldn't they own the whole thing if they did? Wouldn't their profits be higher if they owned it? Sorry, I know nothing about this stuff Sports is irrational to begin with. That's why team owners can get taxpayer fundng for new stadiums; leaving the city would tarnish the city's image and "quality of life " and fans would be distraught if "their" team left. But more to the point ; the stadium ITSELF isn't profitable; the TEAM is. Tickets, concessions,merchandise,huge media deals,etc. are the owners sources of income. The stadium costs a billion or two to construct, then millions more to maintain over the course of the lease . The government that pays for (or toward) stadium construction, hopes to reap intangible rewards by hosting a major sports team. Link to comment Share on other sites More sharing options...
Doc Posted March 31, 2022 Share Posted March 31, 2022 Just need to grease some more palms and all will be good... 1 Link to comment Share on other sites More sharing options...
msw2112 Posted March 31, 2022 Share Posted March 31, 2022 (edited) 56 minutes ago, Georgie said: Sports is irrational to begin with. That's why team owners can get taxpayer fundng for new stadiums; leaving the city would tarnish the city's image and "quality of life " and fans would be distraught if "their" team left. But more to the point ; the stadium ITSELF isn't profitable; the TEAM is. Tickets, concessions,merchandise,huge media deals,etc. are the owners sources of income. The stadium costs a billion or two to construct, then millions more to maintain over the course of the lease . The government that pays for (or toward) stadium construction, hopes to reap intangible rewards by hosting a major sports team. I agree with this. Based on what I have read over the years, the positive economic impact to an area from publicly funding a sports stadium is minimal. From a pure dollars and cents standpoint, it isn't a good deal for the public. That said, having a professional sports franchise brings a major intangible benefit to a city, region, and state. It would be a huge psychological blow to the area to have a professional sports franchise leave the area and move to another part of the country, particularly an NFL franchise, as the NFL is by far the most popular American professional sport. The Bills are a major part of the fabric of the Buffalo and WNY community. True, not everyone is a Bills fan, and true there are many other places the funding could go, and true, the Pegulas are wealthy and could potentially spent 20% of their net worth to privately fund the stadium. It's also true that the Peguals could make WAY more money moving the Bills to a larger market, particuarly the current team with a great young QB who will be around for years to come and one of the top overall teams in the league. While the TV revenue is split evenly, they could sell more tickets for a larger stadium, have higher PSL costs, more corporate suites, higher concession and parking prices ($100+ to park is not out of the ordinary in many markets), and could build a palace with hotels, condos, restuarants, shopping malls, etc. The overall franchise value would increase by millions, potentially hundreds of millions. Many other markets would kill to obtain an NFL team, and moreso, one of this caliber. The county and state did what needed to be done to protect the asset that it had. The Pegulas are also kicking in a substantial amount of money to make the deal happen and are willing to forego the potential profits of a larger, wealthier market because the NYS and Erie County were willing to step up and make it happen. Edited March 31, 2022 by msw2112 Link to comment Share on other sites More sharing options...
eball Posted March 31, 2022 Share Posted March 31, 2022 It's a good deal for the state. It will pass. 1 Link to comment Share on other sites More sharing options...
machine gun kelly Posted March 31, 2022 Share Posted March 31, 2022 It’s just politics grandstanding. You know when a politician is lying right, his mouth is moving.. badada.. Link to comment Share on other sites More sharing options...
extrahammer Posted March 31, 2022 Share Posted March 31, 2022 I think the stadium is going to get negative attention, mostly from people politicizing it, increasingly until it opens. I am wondering what happens if Hochul somehow lost her election in November and if that affects this deal. Link to comment Share on other sites More sharing options...
Mr. WEO Posted March 31, 2022 Share Posted March 31, 2022 3 hours ago, todd said: NYS funded both the Mets and Yankees new stadiums. Those downstate fools are just being hypocritical and stupid. 2 hours ago, The Wiz said: And to put it even more into perspective. Here is all the NY funding for all of the NYC stadiums. https://www.investigativepost.org/2022/02/28/state-historically-not-a-big-funder-of-stadiums/ As your link spells out in its headline: "state is NOT historically a big funder of stadiums".. Posters who keep on tossing out Mets and Yankees should spend a little more time reading about how those stadiums were actually funded. 1 hour ago, eball said: It's a good deal for the state. It will pass. lol--the state of the Pegula Lifestyle Fund, perhaps.. 1 Link to comment Share on other sites More sharing options...
The Wiz Posted March 31, 2022 Share Posted March 31, 2022 1 minute ago, Mr. WEO said: As your link spells out in its headline: "state is NOT historically a big funder of stadiums".. Posters who keep on tossing out Mets and Yankees should spend a little more time reading about how those stadiums were actually funded. I realize I didn't word it correctly in my OP but the point was the same, yes, the state doesn't normally give out funding for stadiums but it's normally the tax payers that get the short end of the stick. This time they cut 600m to potentially 175m and people are upset about it because that money could have gone elsewhere (aka stuff that benefits NYC). Link to comment Share on other sites More sharing options...
Shake_My_Head Posted March 31, 2022 Share Posted March 31, 2022 The new stadium funding is ground up and in the freezer. All the complaining is just a kabuki dance--"you give me money for my pet cause, I'll give you money for yours." Everyone wins and can brag about how effective they are. Link to comment Share on other sites More sharing options...
Mr. WEO Posted March 31, 2022 Share Posted March 31, 2022 4 minutes ago, The Wiz said: I realize I didn't word it correctly in my OP but the point was the same, yes, the state doesn't normally give out funding for stadiums but it's normally the tax payers that get the short end of the stick. This time they cut 600m to potentially 175m and people are upset about it because that money could have gone elsewhere (aka stuff that benefits NYC). NYC actually funded far more than the NYS on those downstate projects. So downstate NYS reps are not wrong to criticize the state's massive involvement in a stadium in Buffalo. I bet they would be happy to support Hochul on this one if Erie County was kicking in 650 million and the state only 200 mill. Link to comment Share on other sites More sharing options...
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