Bills Announce Massive New Stadium Deal

The Buffalo Bills have announced a massive new agreement to remain in Orchard Park long-term.

Pegula Sports EVP Ron Raccuia confirmed the 30-year, $1.4 billion extension to reporters at the NFL's annual owners meeting in Palm Beach, Florida Monday (March 28), NFL Network's Cameron Wolfe reports.

Bills owners Terry and Kim Pegula also confirmed the deal in an official statement on the team's official website and New York Governor Kathy Hochul confirmed the state would provide "a $600 million investment," which is "less than half the cost of the stadium."

"We took another step today to solidify our collective goal of constructing a new stadium for the Buffalo Bills in Orchard Park," the statement read. "We are grateful for the time, efforts and unwavering commitment made by Governor Hochul and her team throughout this process. While there are more hurdles to clear before getting to the finish 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 Bills had a lease with the state of New York and Orchard County that runs through July 2023 prior to the reported new agreement, which still needed to be approved by Gov. Hochul before an April 1 deadline.

State and county taxpayers will be asked to pay $850 million in public funds as part of the deal, which is the largest public commitment for an NFL facility, and the Bills and NFL are expected to cover the remainder of the cost.

The Bills are aiming to replace their current facility, which opened in 1973 and has been considered too expensive to renovate, with experts pegging it at $862 million.

Buffalo is coming off back-to-back AFC East Division titles in 2020 and 2021, which included falling just short of an AFC Championship Game berth following a 42-36 overtime loss to Kansas City Chiefs in the AFC Divisional Round in January.