|
Length of Lease |
10 years, with one time option to terminate during 7th year of lease. |
|
Termination Fee |
$28,363,500 |
|
Capital Investment |
$130,000,000
|
|
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. |
Buffalo Bills Lease Terms Summary
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