New York Governor Kathy Hochul made thousands of Buffalo Bills fans happy on Monday after revealing that New York is committing $600 million in taxpayer funds for a new Buffalo Bills stadium.
Hochul said in her talk with the team’s owners that they agreed that $850 million in public funds go toward the Bills’ brand-new 60,000-seat stadium.
She said Erie County has agreed to pay the additional $250 million to keep the team upstate for at least the next three decades, while the NFL and Terry and Kim Pegula, the owner of the Bills, will cover the remainder of the $1.4 billion price tag.
“I’m pleased that after months of negotiations, we’ve come out with the best answers possible – the Bills will stay in Buffalo for another 30 years, the project will create 10,000 union jobs, and New Yorkers can rest assured that their investment will be recouped by the economic activity the team generates,” Hochul said in a statement.
Sources said the money allocated by the estate of New York is considered the largest one committed to an NFL stadium.
According to reports, Hochul already requested that New York’s share of the money be approved as capital funds in the state budget on April 1.