The construction of the Buffalo Bills' new stadium is now costing $300 million more than projected three months after its construction began.
Referred as the New Highmark Stadium to distinguish it from the Bills' current stadium of the same name, the playing venue is now projected to cost $1.65 billion and approaching $1.7 billion.
Reports cite rising labor and material costs as reasons for the increased price. The project was initially estimated to cost $1.4 billion in March 2022 and rose to $1.54 billion months later.
One source mentioned that one line item is already over the budget by $75 million, while another said that delays in sending out bids affected the increased cost.
The team is legally required to pay the costs of any overruns beyond the initial $1.4 billion projected price of the stadium, which will add to the $550 million that they already committed in the beginning.
The Bills hope to prepare the stadium for the 2026 NFL season.
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Public funds used for the new stadium
The State of New York will contribute $600 million to the project, while Erie County will add $250 million, according to the office of New York State Gov. Kathy Hochul. The Bills will cover the remaining funds needed.
As part of the deal, the Bills are required to stay in Buffalo for 30 years, and the first $300 million in state benefits was disbursed last March as construction was about to begin.
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