New York’s governor Kathy Hochul has announced a public-private agreement to ensure the team remains in the US state. A US$600m investment from New York State - less than half the cost of the stadium - will be matched by other investments
The agreement between New York State, Erie County and the NFL's Buffalo Bills franchise is for a US$1.4bn new stadium in Orchard Park. Hochul's negotiations secured a 30-year commitment for the Bills to remain in Buffalo, and a combined US$550m from the NFL and Bills, approved by the NFL owners. The governor will advance a US$600m proposal in the state budget, and Erie County will contribute US$250m.
“I went into these negotiations trying to answer three questions - how long can we keep the Bills in Buffalo, how can we make sure this project benefits the hard-working men and women of Western New York and how can we get the best deal for taxpayers?" said Hochul. “I'm pleased that after months of negotiations, we've come out with the best answers possible - the Bills will stay in Buffalo for another 30 years, the project will create 10,000 union jobs and New Yorkers can rest assured that their investment will be recouped by the economic activity the team generates.”
Owners of the Buffalo Bills Terry and Kim Pegula said: “We took another step today to solidify our collective goal of constructing a new stadium for the Buffalo Bills in Orchard Park. We are grateful for the time, efforts and unwavering commitment made by Governor Hochul and her team throughout this process. While there are a few more yards to go before we cross the goal line, we feel our public-private partnership between New York State, Erie County led by County Executive Mark Poloncarz, and the National Football League will get us there.”
Erie County executive Mark Poloncarz said: "The Buffalo Bills are ingrained in the heart and soul of every Western New Yorker. 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: the Bills will play in Buffalo for the next 30 years; 10,000 building trades union jobs will work on the project; and the county will no longer contribute annual operating and capital expenses, thereby saving county taxpayers tens of millions through the life of the lease."
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