Billionaire Buffalo Bills owner Terry Pegula is in the center of unwanted controversy after being photographed on a yacht off Newport, Rhode Island. Normally, billionaires on yachts isn't news, but billionaire Pegula is getting $850 million from taxpayers to build a new football stadium.
It might have been easier for them to stomach if Pegula had just chartered a boat for an afternoon at sea. But the yacht, which has been christened Top Five II, belongs to Pegula, and it's worth an estimated $100 million, according to Fox News. Even members of the "Bills Mafia," the club's most hardcore fans, are expressing frustration.
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New York state and Erie County taxpayers will contribute a combined $850 million in public funds to the new stadium. That is the largest taxpayer contribution to a new football stadium in NFL history. Pegula will pay the remainder of the cost, but Fox News says there is no shortage of New York taxpayers who believe their money could have been put to better use.
The fact that construction costs for the stadium are $560 million over budget has also made it a lightning rod for public criticism. When the new Highmark Stadium opens in 2026, it will be a state-of-the-art facility with a variety of major upgrades. One of those upgrades will likely be a hit with the players: an all-grass field. The current stadium was built in1973 and has an artificial turf surface.
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Many NFL players and medical professionals believe playing on natural turf reduces the chances of injury, and Highmark will have one of the league's most unique natural surfaces. It will be equipped with a specialized surface that uses several advanced technologies to grow a high-quality natural grass field. The new Highmark will be one of only two stadiums with this technology, according to Sports Illustrated.
The Bills’ website renderings of the new stadium detail other features that will be popular with fans and lucrative for the franchise. Parking lots will include tailgating zones and concourses on each level will offer fans full-field views while they're away from their seats. The new Highmark will also have three separate clubs that offer various levels of luxury and high-level dining options.
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Club memberships, fine dining restaurants and luxury boxes represent a valuable potential income stream for professional sports franchises. Once the new Highmark is completed, Pegula will have a sparkling new stadium that he can use to host a variety of events, including concerts and large festivals. That will allow him to make money on the new stadium outside of the football season. It's all a massive upgrade on the current 52-year-old stadium.
In the meantime, Pegula has not commented on the controversy. Many pundits expect his Bills to be one of the top teams in the league this season. Pegula is not the first professional sports franchise owner caught in a media firestorm for having taxpayers fund some, or all, of their new stadium. He probably won't be the last.
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