One hurdle leaped as NFL owners approve league financing on new $1.4 billion Buffalo Bills stadium in Orchard Park
The NFL owners have approved financing the loan and project plans for a new stadium in WNY.
Erie County Executive Mark Poloncarz held a press conference shortly after the announcement was made to discuss the terms.
Poloncarz announced the new stadium will be built on the land adjoining the current stadium – saying the strong terms ensure the team never moves.
The Erie County Stadium Corp. (ECSC) will lease the stadium to the Bills once the stadium is substantially constructed and will contribute $600 million towards construction. Erie County will pay $250 million. Everything else will be covered by the Bills.
Construction on the new stadium will create over 10,000 jobs.
The contract also includes details to keep the Bills in Buffalo for the next 30 years.
The Pegulas presented their plans prior to a vote by all 32 owners on league financing to help with construction.
The Pegulas issued a statement shortly after the vote on the Bills Twitter page:
“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.”
The new stadium could be open for the 2026 season.