Bills owner’s $100M yacht sparks taxpayer fury over stadium funding

Fans of the Buffalo Bills are expressing their frustration with team owner Terry Pegula after a video of his $100 million yacht anchored in Newport, Rhode Island, surfaced. The billionaire, who also owns the NHL’s Buffalo Sabres, is facing backlash from New Yorkers who are helping to foot the bill for the Bills’ new $2.1 billion stadium in Buffalo.

While it’s not uncommon for wealthy individuals to own large yachts, the fact that taxpayers are contributing $600 million to the stadium construction has many feeling outraged. Some members of the “Bills Mafia” took to social media to voice their displeasure, with one fan calling Pegula’s yacht excursion a “slap in the face.”

Critics of the stadium deal are pointing fingers at state legislators for approving the use of taxpayer money for the project. Despite Pegula’s reported net worth of $7 billion, New York taxpayers are on the hook for a significant portion of the stadium’s cost, with Erie County taxpayers contributing an additional $250 million.

The controversy surrounding the stadium construction is further fueled by the fact that the project is $560 million over its original estimate. Many feel that the taxpayer money could be better spent on social services, education, or other essential sectors.

New York Governor Kathy Hochul, a devoted Bills fan, defended the decision to use taxpayer funds for the stadium, saying it was a difficult but necessary move to ensure the team’s future in Buffalo. Hochul, who hails from Buffalo, emphasized the economic benefits of keeping the Bills in the city.

As for Pegula’s extravagant yacht, which boasts designer interiors and luxury amenities, it has become a symbol of the growing divide between the wealthy elite and everyday taxpayers. The yacht, valued between $75 and $100 million, is available for charter at a staggering $500,000 per week.

Despite the controversy, Pegula remains focused on the success of his sports franchises and the completion of the new stadium. The debate over the use of taxpayer funds for the project is likely to continue as construction progresses.