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Victor Matheson, Professor of Economics and Accounting, College of the Holy Cross

I've studied stadium financing for over two decades – and the new Bills stadium is one of the worst deals for taxpayers I've ever seen

Bills NFL Pegulas Terry Pegula Buffalo Kim Pegula United States New York Highmark Stadium
Buffalo Bills owners Kim and Terry Pegula received a sweetheart deal from the state to finance their new stadium. Brett Carlsen/Getty Images

After New York lawmakers blew past the deadline to approve the state budget, they finally came to an agreement on April 9, 2022, that included a US$850 million subsidy for a new stadium in Buffalo for the NFL’s Bills.

As a sports economist who has studied stadium deals for over two decades, I am not exaggerating when I write that the New York Legislature has managed to craft one of the worst stadium deals in recent memory – a remarkable feat considering the high bar set by other misguided state and local governments across the country.

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