The details will be released next week, but for now you should know the Buffalo Bills (NFL) have sold Ralph Wilson Stadium naming rights to New Era Cap Company — another Buffalo-based company.
The Bills — as well as co-owner Kim Pegula and Bills president and managing partner Russ Brandon — tweeted out an alert about the Ralph Wilson Stadium naming rights deal coming down the pike. From AP:
Two people with direct knowledge of the decision told The Associated Press the deal will run over the remainder of the team’s seven-year lease. New Era also has the right of first refusal to continue the agreement once the current lease expires in 2022, and also if the Bills elect to build a new facility.
The people spoke on the condition of anonymity because the team and New Era have not disclosed that information.
The value of the agreement was described by one of the people as being close to “average market value” for NFL stadium naming rights deals. Without providing an exact figure, the person said it was “well north of $3 million” per year.