Taxpayers carry heavy tab

The proposed $1.4 billion new home for the Buffalo Bills comes with a record $850 million taxpayer price tag in an agreement reached Monday to secure the franchise’s future for the next 30-plus years. New York Gov. Kathy Hochul completed seven months of negotiations by announcing an agreement preserving the Bills presence in her hometown, while also calling it a deal that “made sense” in the return on public investment. The $850 million amount is considered to be the largest public commitment for an NFL facility. New York will commit $600 million in funds in a deal reached in time for Hochul to include it in the state budget, which by law must be approved by Friday. Erie County will commit $250 million toward the project, while eventually relinquishing control to a newly established state-appointed commission. The NFL and the Bills agreed to commit $550 million in financing, with team owners Terry and Kim Pegula’s share coming in at $350 million for a facility projected to open in time for the 2026 season. The Bills would be responsible for covering any construction over-runs under the proposed deal. The taxpayer commitment of 60.7% falls below the 73% share the state and county had previously committed to the Bills to build, maintain and upgrade the team’s existing facility, now called Highmark Stadium, which opened in 1973. The entirety of the agreement is not complete. The parties have yet to negotiate terms of a 30-year lease which would include a non-relocation clause with the Bills facing a penalty should they default on the deal. The taxpayer commitment also does not include annual operating subsidies the state will commit to game-day related and other expenses. Though the Bills draw fans from across western New York and southern Ontario, they play in one of the NFL’s smallest markets. Buffalo also lacks a major corporate base from which to generate sponsorship dollars