The Buffalo Bills are currently building their new stadium that was originally set with a $1.4 billion budget, but it sounds like it’s become more expensive.
Reports indicate the stadium project is reaching hundreds of millions of dollars over budget, which isn’t ideal for a small market franchise.
According to The Associated Press, the “Buffalo Bills are already facing a potential cash crunch with the latest projections having the team on the hook for as much as $300 million in cost overruns.”
With that said, the Bills’ new stadium is now reaching the $1.7 billion mark and reports claim it could even reach $1.9 billion by the time it’s all said and done, per The Athletic.
“Two people with deep knowledge of the project independently predicted the stadium’s final price tag will be between $1.7 billion and $1.9 billion as material costs likely continue to rise over the next three years.”
That’s quite the difference considering the Bills were originally hoping to build the new stadium for $1.4 billion.
The good news for the public though is that their contribution will not increase. Tax payers are responsible for $850 million of the original $1.4 billion budget.
“The Bills agreed to cover the cost overruns in exchange for having full control over the stadium’s design and construction,” via The Associated Press.
Stadium projects such as these typically go over budget. It’s actually rare when a construction project doesn’t go over budget.
Having said that, the Bills are still gung-ho on building their new stadium. They’re just hitting a little road bump along the way.
The project is set to be completed by the summer of 2026, giving the team an upgraded home in Buffalo.