The “Stadium Formerly Known as Rich Stadium” will soon have another “former” moniker. The Buffalo Bills announced an agreement with New Era Cap Company in a tweet prior to tonight’s preseason game against the Colts. While no indication as to exactly what the new name will be was given, the team announced a press conference in the upcoming week. No financial details were provided, either.
The stadium has been named for founding owner and 2009 Pro Football Hall of Fame inductee Ralph Wilson since 1998. From 1973 through 1998, the stadium rights were owned by Rich Foods, a deal which brought the Bills 1.5 million dollars annually.
John Wawrow, reporting for the Associated Press, shared more details about the detail shortly after the announcement. The big key? It gives New Era naming rights through the current lease, as well as right of first refusal on the next one.
2 people familiar with agreement tell AP New Era naming rights will run thru course of the stadium lease. ... (1/2)
— John Wawrow (@john_wawrow) August 13, 2016
Also, New Era will have right of first refusal when new lease with #Bills is negotiated or if team builds new stadium.
— John Wawrow (@john_wawrow) August 13, 2016
No value on #Bills stadium naming rights deal yet. But person tells AP it's "well north of $3 million" a year.
— John Wawrow (@john_wawrow) August 13, 2016