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Summary
- Bills stadium costs rise to over $2.1 billion.
- Pegulas will cover additional costs of $560 million.
- Public money only covers 40% of the total costs.
- Despite challenges, the new stadium is scheduled to open in 2026.
The construction costs for the new stadium Buffalo Bills have increased dramatically. What was originally budgeted at $1.54 billion is now expected to cost over $2.1 billion. This development not only represents a financial challenge, but also underscores the enormous commitment of team owners Terry and Kim Pegula to the future of the franchise in Buffalo.
Pegulas bear additional costs: a commitment to the “best-in-class” vision.
The Pegulas have agreed to cover the additional costs of more than $560 million. Bills President Pete Guelli emphasized the owners’ determination to stick to their vision of a first-class stadium: “The Pegulas will not back down from building a first-class stadium in Buffalo.”
Public money only covers 40% of the total costs.
Originally the taxpayers were supposed to be involved a combined sum of $850 million bear more than half of the construction costs. Due to the increase in costs, this share has now been reduced to around 40%. Erie County Executive Mark Poloncarz sees this as a benefit for taxpayers: “I’m very pleased that in the end the county will probably have contributed no more than 12% of the total cost, which is a pretty good deal.”
Innovative design and long-term planning despite challenges.
The new stadium, which is scheduled to be completed by June 2026, will be smaller than the previous one, but will feature state-of-the-art technology and innovative design. John Polka, vice president of stadium development, explained the reasons for the cost increase: “Inflation played a significant role in the price increase by driving up the cost of materials. Two additional factors were increasing labor costs and design features added after the agreement with the state and county was finalized.”
The Pegulas also plan to… Sale of a minority share to generate additional funds of a maximum of 25% of the franchise. However, Guelli emphasized that this is not directly related to the increased construction costs.
For Pete Guelli, who took over as president of the Bills and NHL Sabers in March, the project has special significance: “People were talking about the Bills possibly moving away, and now there’s a $2 billion stadium going up across the street, um to keep the team in Buffalo long-term. It is very satisfying for everyone to be a part of it, especially with the Pegula family.”
The Buffalo Bills’ new stadium symbolizes the future of the franchise and the deep connection to the city of Buffalo. Despite the enormous cost increases, the project remains on track.
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