"One step closer toward the New Bills Stadium. The latest renderings have arrived! #BillsMafia," the Bills wrote on their Twitter account with a link to a gallery featuring 14 renderings of the planned stadium on their official website.
Ron Raccuia, the EVP of Pegula Sports and Entertainment, LLC, which owns the Bills, as well as the Buffalo Sabres and other local teams, confirmed reports of a 30-year, $1.4 billion extension to reporters at the NFL's Owners' Meeting in Palm Beach, Florida last year.
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 said 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 a deadline set for April 1, 2022. 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.
Buffalo is coming off three consecutive AFC East Division title, having been eliminated in the AFC Divisional Round during a 27-10 loss to Cincinnati Bengals in January.