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Buffalo Bills Reach 10-Year Lease Agreement With County, State (UPDATED)
Posted By Jon Campbell On December 21, 2012 @ 9:46 am In Other | Comments Disabled
The Buffalo Bills have agreed to a 10-year lease to keep the team at Orchard Park.
The deal to keep the Bills at Ralph Wilson Stadium calls for $130 million in upgrades to the facility, with $35 million coming from the team and the remaining $95 million split by the state and county, according to The Buffalo New s. The details were confirmed by sources with knowledge of the agreement.
The Bills would face a $400 million penalty if the team relocates during the lease, except after the seventh year, when the team would only pay $29 million.
Gov. Andrew Cuomo, who has had several discussions with National Football League Commissioner Roger Goodell, is set to appear via satellite at an 11 a.m. news conference at Ralph Wilson Stadium, according to a spokesman for Erie County Executive Mark Poloncarz. (Cuomo was originally expected to attend in person, but inclement weather prevented a late flight, according to his office.)
The aging stadium first opened in 1973 and is one of the oldest in the NFL. The Bills’ current lease  to play at the county-owned facility runs through July 31.
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URL to article: http://statepolitics.lohudblogs.com/2012/12/21/buffalo-bills-reach-10-year-lease-agreement-with-county-state/
URLs in this post:
 to The Buffalo New: http://buffalonews.com/apps/pbcs.dll/article?AID=/20121221/CITYANDREGION/121229867/1109
 current lease: http://www.erie.gov/billslease/stadium.phtml