Despite criticism from some over using public funds for a new sports facility, devoted followers of the Buffalo Bills eagerly purchased the county's unique bonds to help finance the team's new $1.7 billion stadium. For many fans like Bill Fitzgibbons, who now lives far from western New York, the bonds represented a tangible connection to the team and region of their youth.

Investing in More Than Just Bricks and Mortar

A Lifelong Commitment to the Bills

Bill Fitzgibbons grew up a Bills fan in the 1970s, but left the Buffalo area 37 years ago to pursue a career selling agricultural machinery up and down the East Coast. Despite living in New Hampshire, Pennsylvania, and now outside Atlanta, Fitzgibbons has remained fiercely loyal to the Bills and the team's significance to western New York. When Erie County began selling one-of-a-kind bonds to help pay for the new stadium, the 61-year-old jumped at the chance to buy some. While the bonds didn't entitle him to ownership, they represented a personal connection to the team and region of his youth. Fitzgibbons purchased $11,000 worth of the 25-year bonds, which offered a 5.25% return free of federal tax. "It's impossible to get it out of your soul when you move away," he said of the Bills and western New York. "It will always be where I'm from. Without the Bills, all that would be left is chicken wings — which are exported everywhere now — bad weather and Niagara Falls."

Tapping into Loyal Fanbase

Municipal bonds may not be the most glamorous investment, but they are a crucial tool for local governments to fund infrastructure projects. Erie County issues about $40 million in AA-rated bonds annually to help pay for sewers, roads, and other essential public works. When it came time to cover half the $1.7 billion cost of the new Bills stadium, the county decided to tap into the team's devoted fanbase. Erie County Comptroller Kevin Hardwick recognized that Bills fans, among the most loyal in the NFL, would likely be interested in purchasing some of these bonds. While they wouldn't be able to call themselves "owners" like the shareholders of the publicly owned Green Bay Packers, Hardwick believed fans could express their allegiance and make a prudent investment by buying a bond or two.

A Unique Opportunity for Fans

The county's decision to sell these specialized bonds provided a rare chance for Bills fans to directly contribute to the team's future. Unlike the Packers, the Bills are privately owned, so fans can't purchase stock in the franchise. But by investing in the stadium bonds, supporters could feel a sense of ownership and pride in helping to secure the team's long-term future in western New York.The bonds also offered an attractive financial proposition for fans. In addition to the 5.25% tax-free return, the 25-year maturity provided a steady stream of income for investors. For many lifelong Bills devotees like Fitzgibbons, the bonds represented more than just a sound investment – they were a tangible way to stay connected to the team and region they love.

Overcoming Criticism of Public Funding

The decision to use public funds for a new sports stadium is often a contentious issue, and Erie County's bond sale was no exception. Critics argued that taxpayer money should not be used to finance a private enterprise, even one as beloved as the Buffalo Bills. However, the county maintained that the stadium project was essential for retaining the team and the economic benefits it brings to the region.By tapping into the passion of the Bills' fanbase, Erie County was able to offset some of the public funding required for the stadium. The specialized bonds gave devoted supporters a chance to directly contribute to the team's future, while also earning a steady return on their investment. For many fans, the opportunity to be a part of this community project was worth far more than just the financial rewards.As Fitzgibbons put it, "It's impossible to get it out of your soul when you move away. [The Bills] will always be where I'm from. Without the Bills, all that would be left is chicken wings — which are exported everywhere now — bad weather and Niagara Falls." For these lifelong fans, the new stadium represents much more than just bricks and mortar; it's a symbol of their enduring connection to the team and the region they call home.