Ralph Wilson Stadium lease: Erie County seeks sureties from Buffalo Bills for longer commitment
The Buffalo Bills are close to getting a new lease for the Ralph Wilson Stadium from Erie County but will have to sign certain guarantees and sureties against deserting the facility any time before maturity of the redone deal.
Most importantly, the county has shown willingness to commit the required $200 million for maintenance and renovation. Again, the county bosses are looking into the ways to protect the interest of the taxpayers whose money is being diverted for the purpose.
A local newspaper report has laid the claim that Erie County Executive, Mark C. Poloncarz, will push the matter of protecting the taxpayers’ interest on the discussion table with Bills managers. The official wants to have more than one surety and commitment
from Bills not to leave the facility halfway through the renewed contract.
Mark said:
"That's all part of the negotiations. I want to ensure that we have a lease that keeps the Bills here for many years to come."
The newspaper report added that some of the bindings that the county is thinking of are the financial penalties against the team if it fails to honour the agreed tenure of the proposed contract.
Further, the penalties is not that the only option that the county is mulling to make a part of the deal. It is exploring some other ways to keep pressure on the team if it shuns them before fully servicing the contract.
Irrespective of the terms and conditions of the prospective lease deal, good news for the team is that the negotiation process has continued smoothly.
Bills’ current lease of the stadium will expire in 2013 and now it appears set that they will have the new one before it runs out. Another win for the team is that the county has offered to provide $200 million share in the expected cost of the repair and
uplifting work of the ground.
Poloncarz has hoped the new deal is signed by end of this year. Although he has not confirmed the expected tenure of the new contract, according to the information in the report, it is going to be from 10 to 15 years.
The team has not offered any comment to the latest views expressed by the county’s executive.
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