Investing $850 million of public funds in a new stadium for the Buffalo Bills is a heavy lift for taxpayers. The elected officials who negotiated those terms have offered us the solace that it keeps the team here for at least another 30 years.
It’s an ironclad lease, they’ve assured us.
But it’s not.
And the state of the team’s ownership – Terry Pegula, in his 70s, and his wife Kim, dealing with serious health issues that keep her away from the team – only heighten concerns about the team’s long-term prospects in Western New York.
The memorandum of understanding between the state, county and team allows for the relocation of the team if the Bills owners pay back the $850 million in public funds spent to construct the stadium, plus any capital improvements, and the cost to demolish it, if the state’s stadium authority so desires. After 15 years, the penalties to relocate start to steadily decrease. You can read the full story on Investigative Post's website.
