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Buffalo Bills Lease Terms Summary


 

Length of Lease

10 years, with one time option to terminate during 7th year of lease.

Termination Fee

$28,363,500

Capital Investment

(See attachment for details of improvements)

$130,000,000

  • $35,455,000 Bills
  • $40,654,000 County
  • $53,891,000 NYS

Binding Non-Relocation Agreement

Secured by right of specific performance, backed up by $400,000,000 in liquidated damages.

Annual Rent Payment by Bills

$800,000, to be dedicated to capital improvement fund, increasing annually with CPI.

Annual Capital Payments

Shared by County and NYS, starting at $3,800,000 in 2013, increasing annually with CPI, similar to current lease.  Can be diverted to New Stadium Fund at option of County and NYS.

New Stadium Advisory Group and Fund

New Stadium Advisory Group will be formed to explore potential for construction of new stadium at current site or at new site within Erie County.  Beginning in 6th lease year, up to one half of the capital improvement fund can be used to conduct studies related to a new stadium location, design and development.  Approximately $2,216,000 will be available in 2018, with a total of $11,796,000 at the end of the lease term.

Working Capital Payments

Shared by County and NYS, starting at $3,000,000 in 2013, increasing annually with CPI, similar to current lease.

Game Day Expenses

Shared by County and NYS, starting at $1,818,000 in 2013, increasing annually with CPI, similar to current lease. 

Operating Expenses

Shared by County and NYS, starting at $2,913,000 in 2013, increasing annually with CPI, similar to current lease.

Naming Rights

Bills retain naming rights.

Toronto Games

Bills can play one regular season game in Toronto and one pre-season game in Toronto every other year.

International Games

In addition to Toronto game, Bills can play one international game during lease term.

Licensing

Bills allow use of log for NYS marketing programs up to $800,000 annually.

I Love NY Box

Bills provide suite to NYS for promotion of NYS.