Bills to sell PSLs for new stadium

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Well, something had to give.

The Bills don’t want to pay for their new stadium, and they’ve acknowledged that the fans don’t want to pay for the new stadium with Personal Seat Licenses. With the public authorities clearly not inclined to foot the whole bill, either the Bills or the fans will be footing part of it.

Drum roll, please.

Via the Buffalo News, the Bills now plan to sell PSLs in order to raise the money for a new stadium.

We will definitely have PSLs as part of a new stadium,” Ron Raccuia, executive vice president and lead negotiator for Pegula Sports and Entertainment, told the Buffalo News. “Every new stadium that’s opened since 2009 has utilized PSLs.”

That’s a far cry from what co-owner Kim Pegula said in 2018: “I know fans in Buffalo don’t want higher ticket prices, they don’t want PSLs.”

The good news is that, according to the Bills, the PSLs won’t leave most fans SOL.

“We will most likely have the lowest PSLs of any new stadium built since 2009,” Raccuia said. “And that’s a function of the market and us being committed to making sure that we don’t price our fans out of the marketplace. We will be very cognizant of that with PSLs.”

The entry level for the PSL program will be $1,000, along with an obligation to annually purchase season tickets.

“If a PSL is structured correctly, it really does provide an additional benefit to the fan,” Raccuia said. “And we’re committed to making sure that the PSL package that any fan ends up having with us is going to have value.”

The biggest value is that it helps keep the team in Buffalo.

The money needed via PSLs isn’t yet known, because the deal with the politicians isn’t yet done.

“A lot of factors that go into that,” Raccuia said. “We have to know what type of deal we’re doing with the state and the county.”

The biggest question for Terry and Kim Pegula continues to be the size of the check they’ll need to write from their own personal fortune to pay for the stadium. Chances are that the percentage of their net worth that goes to the cost of the stadium will be less than the percentage of net worth that those buying the PSLs will fork over to finance the new venue.

23 responses to “Bills to sell PSLs for new stadium

  1. How did the Pegula’s get approved to purchase the Bills? They seem like chumps, they knew Buffalo couldn’t afford to subsidize a new stadium when they bought the team and now they’re playing the extortion game.

  2. Good freaking luck, Bills fans. I bought Giants PSLs 10 years ago for 6K apiece. I can now sell them for 1K each. Maybe. Better to take the money you would use for PSLs, put it in a separate football tickets account and just buy on the secondary market whenever you want to go. If I had done that, I’d have saved many thousands!

  3. Your absolutely right dwinsgames. I paid $3500 for 2 seats and there not lower deck.. at the new Vikings stadium… it’s like getting into those time shares….Dont do it… buy on the NFL ticket exchange when you want to go.

  4. I say just move somewhere that wants the team if the fans and community dont want to fund their portion. Personally i would gladly pay a half cent or penny tax to keep my football team.

  5. A corporation worth billions wants the people of Buffalo to pay for their new building. I say no! I hear St Louis would still like a team. Bills could move there and be the St Louis Tax Bills.

  6. Headline should read “Bills to fleece their fans to fund construction of their new stadium.

  7. “If a PSL is structured correctly, it really does provide an additional benefit to the fan,”
    What is that benefit?

  8. Oh well, get used to it. The average fan probably pays more taxes than the average NFL owner, too.

  9. Meh. Every American business owner does everything in their power to make as much money as possible.

    Unless and until they stop selling, PSLs aren’t going anywhere.

  10. Nothing wrong with PSLs – you know what you’re getting into and there are costs and benefits. What there IS something wrong with is what they did in Cleveland – require PSLs, and then years later eliminate them. A PSL owner retains all the original benefits, but if a seat should come open next to the PSL owner, someone could buy that seat without a PSL, and have nearly all the same rights. That person could “own” that seat with continued season purchases, but could not sell the seat rights to someone else – but unless it is a very unique seat that someone specifically wants, why buy the PSL? Though they were different team owners that sold the PSLs than the owners that changed the rules – the result was that people made that investment under one set of rules, and then a new ownership pulled the financial rug from under their feet.

  11. The fact that so many of you are surprised or out off by a PSL means you aren’t paying attention. Every stadium built recently with 1 cent of tax payer money has PSL’s as well. They will sell PSL. probably float revenue backed muni’s abs then have the Pegulas and the local gifts chip in…… thats just the way it goes. If you want season tickets buy the PSL, if ya don’t. We’ll then don’t. This is about as clear an individual choice as possible.
    If you don’t like the nfl as a business including your local team then go do something else on Sunday’s. The whining is unreal as is the outrage – I truly believe a team is valuable for a region and I’ll be buying a PSL and in dont even live in Buffalo anymore.

  12. Almost ever stadium build had public money why does this come up like such a big deal all the time. The Yankee stadium used over a BILLION $ of the 2 billion bill was public money. So tell me why does the Yankees get 1 Billion and every acts like the Bills should get ZERO!

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