(The Center Square) – The cost to build a new Buffalo Bills stadium has reportedly increased to $2.2 billion, a more than $560 million estimated increase that will be paid for by team ownership.
The stadium is still expected to open in 2026, according to the Empire State Development.
The new stadium will have between 60,000 and 63,000 seats.
“The stadium will be a minimum 1.35 million square feet with eight to nine levels with a mixture of general seating, club seating, premium seating and suite offerings as well as a standing room only area and party decks,” the Erie County board says.
The Bills will receive $850 million in public funds for the stadium, which was once estimated to cost $1.4 billion.
The state of New York is giving $600 million to the project while $250 million will come from Erie County. The stadium construction cost is similar to a more than $2.2 billion estimated cost to build a Tennessee Titans stadium, paid for with $500 million from the state of Tennessee and through a tax capture in and around the new stadium expected to take in $3.1 billion to pay off bonds and maintenance on new Nissan Stadium over the 30-year life of the team’s lease.
Economists have repeatedly shown that public subsidies for professional sports stadiums are not worth it for taxpayers and do not bring the promised benefits.
