Bills' new stadium deal carries $850M taxpayer tab, gov says

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The proposed $1.4 billion new home for the Buffalo Bills comes with a record $850 million taxpayer price tag in an agreement reached Monday to secure the franchise’s future for the next 30-plus years.

Gov. Kathy Hochul completed seven months of negotiations by announcing an agreement preserving the Bills presence in her hometown, while also calling it a deal that "made sense" in the return on public investment.

The $850 million amount is considered to be the largest public commitment for an NFL facility.

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The field is prepared at Highmark Stadium before an NFL football game between the Buffalo Bills and the Carolina Panthers, Dec. 19, 2021, in Orchard Park, N.Y. (AP Photo/Joshua Bessex, File)

New York will commit $600 million in funds in a deal reached in time for Hochul to include it in the state budget, which by law must be approved by Friday. Erie County will commit $250 million toward the project, while eventually relinquishing control to a newly established state-appointed commission.

The NFL and the Bills agreed to commit $550 million in financing, with team owners Terry and Kim Pegula’s share coming in at $350 million for a facility projected to open in time for the 2026 season. The Bills would be responsible for covering any construction over-runs under the proposed deal.

The taxpayer commitment of 60.7% falls below the 73% share the state and county had previously committed to the Bills to build, maintain and upgrade the team’s existing facility, now called Highmark Stadium, which opened in 1973.

"We’re very excited about this. It’s a great day for western New York and I’m really