Mar 28, 2022 - Sports

New York reaches deal for $1.4 billion Buffalo Bills stadium

Highmark Stadium

Highmark Stadium prior to the AFC Wild Card playoff game between the New England Patriots and the Buffalo Bills on January 15, 2022 in Buffalo, New York. Photo: Timothy T Ludwig/Getty Images

The state of New York reached an agreement with Erie County and the Buffalo Bills for a $1.4 billion stadium in Orchard Park, Gov. Kathy Hochul announced Monday.

Why it matters: The new stadium would receive $850 million in state and local funding under the agreement. It would be the largest-ever taxpayer contribution for a pro football facility, per The New York Times.

By the numbers: The state will contribute $600 million to the project, while Erie County will contribute $250 million, according to a statement from Hochul's office. The remaining $550 million will be funded by the Bills and the NFL.

  • As part of the agreement, the Bills will remain in Buffalo for 30 years.

What they're saying: Erie County Executive Mark Poloncarz noted that the share of public financing for the stadium is reduced from previous stadium deals, with the public providing about 61% of funding.

  • He added: "It was essential that we entered into an agreement that ensured the team stayed in Buffalo, but was also a fair deal for the people of Erie County and New York. That is exactly the agreement that has been reached."

Between the lines: The Bills generate $27 million annually for the state of New York, Erie County and Buffalo, according to Hochul's statement.

  • Over the 30-year period that the Bills will lease the stadium, revenues are expected to grow and amount to more than $1.6 billion total.
  • The construction of the new stadium is also expected to produce 10,000 construction jobs, which will be filled with union labor, according to the agreement.
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