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Posts Tagged ‘Erie County.’

Buffalo Bills, State of New York, Erie County, agree on new stadium lease until at least 2020

Ralph Wilson Stadium home of the Bills (photo by mikerussell via wikipedia commons)

The NFL’s Buffalo Bills have reached an agreement with the State of New York and Erie County on a new lease deal for Ralph Wilson Stadium that will keep the team in the suburb of Orchard Park until at least the year 2020.

The Bills’ current 15-year lease expires on July 31, 2013. Buffalo is located in the United States’ 56th largest TV market and the concerns have been that they might be a target for relocation to Los Angeles or even Toronto.

The $271 million agreement includes $130 million in renovations for the almost 40-year-old stadium which was opened in 1973, has the Bills paying $35 million and New York and Erie County providing the other $95 million.

The lease is for 10 years but the agreement has the Bills staying in Buffalo at least through the first seven years. The team then will have the option of buying out the remaining three years of the lease for $28 million. However, the penalty to leave early is $400 million.

(courtesy of NFLmedia.com & Buffalo Bills)

The owner of the Bills is 94-year-old Ralph Wilson, who is the oldest owner in the NFL and the oldest living former player and Pro Football Hall of Fame member. Rumors are swirling that his health is in decline.

Wilson was born in Columbus, Ohio on October 17, 1918.