Buffalo Bills Strike Deal for Taxpayer-Funded $1.4 Billion Stadium.

The agreement calls for $850 million in New York State and local funding, the largest taxpayer contribution ever for a National Football League facility.

ALBANY, N.Y. — New York State officials have reached a deal with the Buffalo Bills to use $850 million in public funds to help the team build a $1.4 billion stadium — the largest taxpayer contribution ever for a pro football facility.

Under the deal, the state would finance $600 million of the construction costs, while Erie County, where the stadium will be built adjacent to its current home, would cover $250 million. The remainder would be financed through a $200 million loan from the N.F.L. that was approved on Monday, plus $350 million from the team’s owners.

The public dollars, which still need to be approved by lawmakers, would cover about 60 percent of the projected construction costs, a percentage that is slightly lower than in recent stadium deals in similarly small markets in the N.F.L. But the overall subsidy is the largest amount earmarked for an N.F.L. stadium since Clark County in Nevada issued $750 million in bonds to help pay for the construction of a new arena before the Raiders moved to Las Vegas in 2020.

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The New York Times

By Luis Ferré-Sadurní

March 28, 2022

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