SCBills Posted August 22 Posted August 22 Terry Pegula could have made much more money moving the team to Austin, Texas. The anti-Pegula contingent want to live in a world that doesn’t exist.. and apparently want that world to have Josh Allen Quarterbacking the Texas Bills. 2 Quote
HOUSE Posted August 22 Author Posted August 22 Why didn't the Pegulas buy an open air yacht ,? 3 1 Quote
Bob in STL Posted August 22 Posted August 22 8 minutes ago, Bob in STL said: Can we get some more details here? Terry is paying $1.25B (60%) of the estimated cost of $2.1B Erie county pays $250M or 12%. NYS pays $600M or 28% Sure, Terry could have paid a bigger portion but 60% is not nothing and what else is in the deal? Who pays for the cost overruns in construction and readiness? Terry does and it factored in his 60%, which can grow from there. Who pays for maintenance? Will the stadium be used for other events? Who gets revenues back (Terry, State, County) and how much do they get when the stadium is used? to answer one of my my questions, Pegula pays for all overruns. His 60% can grow, he is assuming that risk. No the taxpayers. https://finance.yahoo.com/news/bills-stadium-costs-balloon-2-000057348.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAACGs0N8eTEc8QixAO_jBA_ksTke-0vazDdGC1A1ws-q5krkdjm4mcQDQ4oh4CGoBD6SMlszkoeuACWVb-g9-aDlWac153iyBtkzE1T6wNWB2FDzgrR333Dtu2Q9kuElX9MbmhzrIdIOHqzmf4irbVyD95fNiM3Qu14ouSy6QtJ5B 1 Quote
I'm Spartacus Posted August 22 Posted August 22 The yacht sucks. Can't even fish off of it, it's too big! Quote
Bob in STL Posted August 22 Posted August 22 12 minutes ago, Bob in STL said: Can we get some more details here? Terry is paying $1.25B (60%) of the estimated cost of $2.1B Erie county pays $250M or 12%. NYS pays $600M or 28% Sure, Terry could have paid a bigger portion but 60% is not nothing and what else is in the deal? Who pays for the cost overruns in construction and readiness? Who pays for maintenance? The State and County pay it over 30 years and it is estimated in their portion of the combined $850M Will the stadium be used for other events? Who gets revenues back (Terry, State, County) and how much do they get when the stadium is used? To answer my question on maintenance, the state and county pay for maintenance over 30 years, and that cost is already factored into their combined investment of $850M. BTW, these payments over 30 years are JOBS, so some portion of this tax money comes back to serve the community. Quote
buffalostu2 Posted August 22 Posted August 22 Didn't the end of the article say he bought it in 2021? Shouldn't that make it a non issue? Also it is a little crazy that a boat and the stadium are an either/or scenario for people. He is worth 7 Billion. He could afford three more stadiums and a handful of yachts if he wanted to. The state made the agreement and I for one am glad they did. The last stadium lasted 52 years. If the new one lasts that long I am sure the state will recoup 850 million. 2 1 Quote
CincyBillsFan Posted August 22 Posted August 22 4 hours ago, WNYFAN1 said: I think it's absurd that public money was used on the stadium. IMO the two are not related. Oh and I was watching some guy by the name of "Mr Beast" with my grandson tour a Yacht a lot more impressive then Pegula's. Quote
Southern McButterpants Posted August 22 Posted August 22 12 minutes ago, HOUSE said: Why didn't the Pegulas buy an open air yacht ,? They did - only parts are covered. Quote
Bob in STL Posted August 22 Posted August 22 17 minutes ago, Bob in STL said: Can we get some more details here? Terry is paying $1.25B (60%) of the estimated cost of $2.1B Erie county pays $250M or 12%. NYS pays $600M or 28% Sure, Terry could have paid a bigger portion but 60% is not nothing and what else is in the deal? Who pays for the cost overruns in construction and readiness? Who pays for maintenance? Will the stadium be used for other events? YES, which generates more cash for the city and county and keeps WNY relevant. Who gets revenues back (Terry, State, County) and how much do they get when the stadium is used? To answer my question on multi use. AI Overview Yes, the Buffalo Bills' new Highmark Stadium is designed as a multipurpose facility to host various events beyond football games, which will create economic benefits and new opportunities for the Buffalo community. While specific details and the full range of non-football events have not been fully detailed, the stadium's multi-purpose design ensures it will serve as a venue for a variety of events. Designed as a multipurpose venue The new stadium is intended to be a vibrant facility for the community. Officials have promoted the stadium as having the ability to host diverse events to provide economic benefits and generate tax revenue. Examples of potential events While not an exhaustive list, the multi-purpose design opens the door for concerts, other sporting events, and community gatherings. Focus on the fan experience The new stadium is centered on creating a fan-focused, football-first environment. It aims to foster the iconic culture of the Bills' fan base while creating a dynamic vision for the future of the franchise. Quote
Prospector Posted August 22 Posted August 22 3 hours ago, WNYFAN1 said: "The state will make it back and then more." Ummm if that's the case then why didn't the billionaire owner just fully fund it?? Because the owner is not the state... that would be my guess... unless the taxes go directly to Terry, in which case I would be wrong. Quote
CincyBillsFan Posted August 22 Posted August 22 Envy may be one of the worst sins. After all Pegula has done for Buffalo it's beyond petty to carp about his freaking boat. Some folks need to play a little "It's a Wonderful life" mind game and consider what Buffalo would be like today if Pegula never bought the Bills & Sabres? Would either team still be in the city? Would there be any development on the waterfront? 2 2 Quote
Bob in STL Posted August 22 Posted August 22 24 minutes ago, Bob in STL said: Can we get some more details here? Terry is paying $1.25B (60%) of the estimated cost of $2.1B Erie county pays $250M or 12%. NYS pays $600M or 28% Sure, Terry could have paid a bigger portion but 60% is not nothing and what else is in the deal? Who pays for the cost overruns in construction and readiness? Who pays for maintenance? Will the stadium be used for other events? Who gets revenues back (Terry, State, County) and how much do they get when the stadium is used? They all get revenues back over time, the question to some is whether it is enough. To me it depends on if you want to be a relevant NFL city or not. I vote YES. To answer my question on who get revenues back. AI Overview Revenue Distribution from Buffalo Bills Stadium Usage The revenue generated from the new Buffalo Bills stadium will be distributed among the Pegulas (team owners), New York State, and Erie County. However, the exact breakdown of the ongoing revenue sharing can be complex and is subject to the terms of the stadium agreement, which involves the state owning the stadium and leasing it to the Bills for 30 years. Here's a breakdown of how different entities receive revenue: New York State, Erie County, and the City of Buffalo: These entities benefit from various taxes generated by the stadium's use, estimated at around $27 million annually. These include: Direct income taxes, sales taxes, and use taxes. Visitor spending at local businesses, generating additional sales tax revenue. The Pegulas (Buffalo Bills Owners): They will generate revenue primarily through ticket sales, concessions, merchandise sales, and other related income streams. While they are contributing significantly to the stadium's construction ($690 million), details on the precise profit-sharing arrangement regarding ongoing stadium revenues are not widely available in the provided search results. However, some sources suggest that any deal should include an increase in rent paid by the Bills and profit sharing of ticket and concession sales. Erie County: In addition to tax revenues, Erie County will receive surcharges on tickets, parking, and concessions, according to the deal with the Bills. Important Notes: The public contribution to the stadium's construction is substantial, with New York State contributing $600 million and Erie County contributing $250 million, according to AP News. Economic studies commissioned by the state and the team project a significant increase in revenue and over $1.6 billion in economic impact over the 30-year lease period. There has been some controversy surrounding the public funding for the stadium, with some arguing that the economic benefits may not outweigh the costs. Quote
HOUSE Posted August 22 Author Posted August 22 8 minutes ago, Southern McButterpants. said: They did - only parts are covered. Thats because the Pegulas are cheap 2 Quote
SectionC3 Posted August 22 Posted August 22 (edited) 30 minutes ago, Kirby Jackson said: Why? He has billions of dollars. He shouldn’t get a yacht that he wants because people don’t like the optics of it? Should that factor into his decision making process? “You know, I really want this new boat. I can certainly afford it. I probably shouldn’t though because people that can’t afford it might not like the way it looks. You know what, that’s a good reason to pass on purchasing this yacht.” Mostly because if I was going to take $250m from the county containing the poorest city in America it’s not something I would do. I don’t blame the state and county for paying for the stadium. I would have done the same. I also think it’s a bad look to take those funds and spend $100m on a friggin stupid opulent boat. It’s not something I would have done. You have your opinion, I have mine. It is what it is. On to the next issue. Edited August 22 by SectionC3 Quote
US Egg Posted August 22 Posted August 22 He builds/buys that yacht regardless of anything. Droll on….. 2 Quote
jcamm1966 Posted August 22 Posted August 22 1 hour ago, BuffaloMatt said: Anyone know the name of the Yacht? 1 Quote
Kirby Jackson Posted August 22 Posted August 22 12 minutes ago, SectionC3 said: Mostly because if I was going to take $250m from the county containing the poorest city in America it’s not something I would do. I don’t blame the state and county for paying for the stadium. I would have done the same. I also think it’s a bad look to take those funds and spend $100m on a friggin stupid opulent boat. It’s not something I would have done. You have your opinion, I have mine. It is what it is. On to the next issue. You don’t get a vote though. That’s the point. It’s like, if you or I wanted to buy a certain car or house, I never think, “how will this look to people that can’t afford it?” That’s not part of the decision making process. That decision is not related to the stadium deal. Pretty much all stadiums are done as public/private partnerships. You are saying that rich billionaires shouldn’t have nice things because the tax payers help pay for the building that they play in? Where’s the line? Is it okay for him to have a BMW 5 series but not a Ferrari? Help me understand where the line is that’s optically acceptable for him to spend HIS money? 1 1 Quote
Mister Defense Posted August 22 Posted August 22 Wow. Nice. Good for him, to have that kind of success, that most only dream about. So happy this man is the owner of our beloved team. I have only read the OP, not the thread, so has this turned into one of the many since the season ended- irrational-over the top-bash the living daylights out of the Bills'-leadership threads? With those same 'ol roughly two dozen haters having a field day? I would bet yes, but hopefully not! 1 Quote
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