Most of the public funding is expected to come from the state, with the remainder from the county, which will own and act as the lessor of the stadium, reflecting the arrangement that has been in place for half a century.
The Pegulas and the NFL are expected to pick up the remainder of the cost through the G-4 program.
The NFL’s G-4 program, in existence since 2011, and its predecessor, the G-3, established in 1999, are named for the sections in which they appear in the league’s collective bargaining agreement with the NFL Players’ Association, which was last ratified became 2020.
Hochul basically confirmed that negotiations are ongoing and she has nothing to announce – yet.
“It’s pretty much become a standard part of the financing structure of every stadium business,” Pittsburgh Steelers owner Art Rooney II, a member and former chairman of the league’s stadium committee, told The News.
The details of the G-4 program are complicated, and each agreement is unique and based on the project.
• The Pegulas can apply for a loan of up to US$200 million from the league to cover construction costs.
• The first $150 million of the NFL loan will be repaid over 25 years through the away team’s share of Bill’s box office revenue, NFL spokesman Brian McCarthy confirmed in an email exchange with The News. This corresponds to about 33% of home ticket sales.