Here Is Where The Money Is Coming From For Bills New Stadium
Now that the New York State annual budget has been passed, we now know where the $600 million dollars in public funding for the new Buffalo Bills stadium is coming from.
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The Buffalo Bills, Erie County, and New York State have all come to an agreement on building a new $1.4 billion dollar stadium in Orchard Park. Part of the funding for the new stadium will be from New York State and now we know where the money is coming from.
The State will be putting $600 million towards the new stadium. $418 million dollars will be taken from the settlement that New York State got from the Seneca Nation over casino revenues. The remaining $182 million dollars will be funded from the New York State capital projects portion of the state budget.
The budget was passed 95-49 in the New York Assembly and 39-23 in the New York Senate.
An additional $850 million dollars will be paid using taxpayer dollars while Erie County will also be adding $250 million dollars to the budget. The NFL also approved a $200 million dollar loan to the Buffalo Bill owners to help construct the stadium.
The Pegulas, who own the Buffalo Bills will also be responsible for additional funding for the stadium that goes over the proposed $1.4 billion dollar stadium design.
Construction is expected to start in 2023 with the goal of the stadium being completed for the 2027 season. The new location for the stadium will be across the street from the current stadium. The current stadium is expected to be demolished during the construction process.