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Buffalo Bills proposes a stadium with 60,000 seats by 2027 – NFL Sports

Orchard Park, NY- Buffalo BillsThe Associated Press learned that the proposed new $ 1.4 billion stadium will include approximately 60,000 seats and 60 suites.

The bill’s proposal includes a construction timeline with a fixed completion date by 2027, based on the speed at which the transaction closes. Those who were directly aware of the documents submitted to state and county authorities told AP on condition of anonymity. The plan has not been announced.

The team’s current lease expires in July 2023 and will be extended until a new facility is opened if the project is approved by New York State and Erie County.

The proposed capacity is about 12,000 less than Bills’ current facility, now called Highmark Stadium, built in 1973. The new venue will not include a roof, but will be designed to protect most of the seats. From the element, the source said.

The team initially considered a larger stadium with a $ 1.6 billion price tag before making a decision to shrink the project, he said.

Discussions between Bills’ parent company Pegra Sports and Entertainment and government officials began in late May, and both parties held an on-site tour last week in Bills’ dilapidated home.

The question is how quickly the transaction will be approved and how the construction costs will be split between the team and the taxpayer. Bills has already said that team owners Terry and Kim Pegra have promised to share some of the costs, but haven’t specified some.

States and counties are required to cover more than 50% of their projects, raising concerns about taxpayer funding potential.

The PSE proposal is considered tentative and subject to controversial changes, and a rendering of the proposed facility has not yet been submitted. Negotiations were partially delayed due to the change of governor of New York, which was taken over by Kathy Hokul last week following Andrew Cuomo’s resignation.

Hochul is from Buffalo and is already in contact with PSE officials.

Her office issued a statement to AP on Monday, stating: It will be published as soon as the negotiations are completed. “

$ 1.6 billion cost New York Giants The shared facility at Jets’ MetLife Stadium, which opened in 2010, was entirely privately funded. At Minnesota Viking’s $ 1.1 billion US Bank Stadium, which opened in 2016, taxpayers funded 45.2% of the cost.

At Orchard Park, taxpayers have completely taken up the $ 22 million construction tab at Highmark Stadium in the early 1970s.

The bill has excluded further refurbishment options as it is exorbitantly expensive compared to starting anew.

Over $ 130 million was spent on refurbishment as part of the previous lease agreement signed in 2013. A year later, a state commissioned survey predicted that the next refurbishment would cost $ 540 million and most of the work would be largely devoted to reconstruction. The entire third deck. Its cost is expected to be much higher in today’s dollar.

Pegras, who purchased the bills in 2014, said he spent an additional $ 146 million on capital, match days and stadium-related costs, including suite upgrades, new training facilities and expansion of the driving range.

As part of a PSE-funded study that began in 2018, the team conducted an extensive analysis focusing on three potential stadium sites in and around Buffalo, followed by a team-managed station across from their current home. Proposed to build a facility in the stadium.

The other two locations considered were a university on the Buffalo campus north of the city and a downtown location on land where the abandoned Perry project was vacant. The estimated cost of a downtown stadium has reached $ 1.9 billion, excluding the necessary infrastructure upgrades, he said.

Since then, PSE has adopted Legend Global Planning, a stadium consulting firm managed by Cowboys owners Jerry Jones and the New York Yankees. A division of Legend Global Sales was also hired to oversee the sales and seat licensing of future new stadium sponsorships.

The PSE submission includes an economic impact study that concludes that the team is generating $ 361 million annually in the local economy.

Sports economists are pushing back the magnitude of the impact sports facilities have on the local economy and questioning whether taxpayers should share the costs. According to Allen Sanderson, an economist at the University of Chicago, the NFL stadium is particularly relevant, as the opening dates are limited based on the NFL’s 17-game regular season schedule.

“The answer is zero. Sports stadiums are not a catalyst for economic development,” Sanderson said. “They only greatly enrich teams, leagues, and franchise owners.”

– NFL Sports

Buffalo Bills proposes a stadium with 60,000 seats by 2027

https://www.espn.com/nfl/story/_/id/32120353/report-buffalo-bills-propose-60000-seat-stadium-2027 Buffalo Bills proposes a stadium with 60,000 seats by 2027

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