Bills Bonds sale now over, after generating $2.7M for Erie County to use on stadium

The sale of Bills Bonds for the new stadium started on Monday — and now those sales are over.

Despite some fans and financial advisors cautioning against the investment, Erie County is saying it hit its goal.

According to the Erie County comptroller, a little less than 100 people bought the so-called Bills Bonds. That generated $2.7 million for the county, which in turn will use that for the construction of the stadium.

But that’s not all of the money raised. On Monday the sale of the bonds was opened up so Bills fans and the public could purchase the bonds — and on Tuesday sales of the bonds opened up to institutional investors.

Erie County Comptroller Kevin Hardwick says the county has received over $200 million worth of orders for the Bills Bonds. The county was hoping to raise $125 million.

The sale period for the public and institutions is now over.

“On October 8, we’ll have the money that we need to meet our commitment to the Buffalo Bills stadium, to the corporation that’s building it — and after we pay them the money, we’ll, for most intents and purposes, be out of the football business,” Hardwick said. “… It’s a great thing because we’ve operated that stadium now for 50 years, and we’ve had the liability for it. We’ve had, we’ve had to pay annually for upgrades and the like, yeah, and we won’t have to do that anymore.”

The county will only be processing orders worth $125 million, so it’s not a situation where the county keeps any of that additional money that was raised. Those orders would be canceled.