The Bills on Saturday announced an "agreement to sell the naming rights of their home stadium to Buffalo-based New Era Cap Company," according to John Wawrow of the AP. The team "did not provide any further details except to say a news conference will be held next week." A source said that the deal was worth "well north" of $3M per year. Sources said that 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 '22, and also if the Bills "elect to build a new facility." Sources added that the agreement "was reached about 10 days ago." Wawrow noted the Bills first began considering selling the stadium's naming rights "about four years ago before narrowing their focus on New Era because of its local ties" (AP, 8/13). In Buffalo, Jay Skurski noted the Orchard Park facility "was known as Rich Stadium from its opening" in '73 through the expiration of Rich Products' naming-rights deal in '98. Since then, it has been "named after its founding owner," the late Ralph Wilson Jr. Family-owned New Era "has more than 2,000 employees in 17 offices around the world" (BUFFALONEWS.com, 8/13). Also in Buffalo, James Fink wrote the deal was a "surprise" (BIZJOURNALS.com, 8/13). Fink also cites sources as saying that that while the New Era name "will be on the stadium, taking the first or lead position," Wilson's name "may be worked into the brand" (BIZJOURNALS.com, 8/15).
