New Buffalo Bills Stadium To Cost More Due To Increased Labor & Material Costs
Written by Tariq on August 14, 2023
Three months since construction began on their new stadium, 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, four people with direct knowledge or who were briefed on the financial details told The Associated Press this week.
What was initially estimated to cost $1.4 billion in March 2022, and increased to $1.54 billion months later, is now projected to have jumped to $1.65 billion and approaching $1.7 billion, the people told the AP on the condition of anonymity because the team has not disclosed those figures.
The rising price tag is notable because the Bills are contractually required to cover any overruns beyond the then-agreed to cost of $1.4 billion as part of the tentative deal the team reached with the state and Erie County 16 months ago.
Increased labor and material costs were cited for the increased price, with one person saying one line item has already come in at $75 million over budget. Another person said a delay in sending out bids also had an effect in upping the cost.
Source: WHAM-TV
