Assembly Speaker Sheldon Silver’s “claw-back” proposal which would have the Buffalo Bills pay the State back any expenses for renovating Ralph Wilson Stadium should they leave in the next seven years drew a terse response from the team:
“The terms negotiated by Governor Cuomo and County Executive Poloncarz into the Memorandum of Understanding (MOU) include the gold standard for fully protecting the public’s investment in Ralph Wilson Stadium. The three parties have agreed in principle to signing a binding contract that not only allows the Public Entities to get a court injunction preventing the Bills from moving before their lease term ends (specific performance), but further provides that if a court for any reason doesn’t issue such an injunction, the Bills must pay the Public Entities $400 million (liquidated damages). That sum is more than double the present value of the investments to be made by the Public Entities under the proposed lease. The team agreed in writing to both of these protections months ago. The reason for the proposed legislation is thus a complete mystery to us.”
Filed under: Buffalo Bills
Tagged with: Assemblyman Sheldon Silver, Buffalo Bills, Ralph Wilson Stadium, Russ Brandon
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