It’s officially the end of an era for the New Era company’s naming rights deal of the Buffalo Bills stadium.
The Bills and New Era jointly announced on Wednesday that the company asked to be released from their overall sponsorship of the team. It ends a relationship that initially began in August of 2016 and was associated with the Pegula family taking ownership of the franchise.
— Buffalo Bills (@BuffaloBills) July 15, 2020
The news prematurely ends what was to be a seven-year, $35 million deal that was supposed to extend into the 2022 season. It’s unclear as to what precipitated the announcement. But the economic slowdown associated with the COVID-19 pandemic certainly has to be taken into consideration.
New Era Field is the third name that was given to the current Buffalo Bills facility during its existence. It was initially known as Rich Stadium when it opened in 1973 after Buffalo-area company Rich Products and it was one of the first instances of stadium naming rights deals in North American sports.
When that deal expired in 1998, the stadium was named after the team’s original owner, Ralph Wilson. It remained that way until after the 2015 season, one year after Wilson passed away at the age of 94. His death led to significant questions about the team’s future in Buffalo until the purchase of the club by Terry Pegula ensured it would stay put.
But there are still question marks. The current lease with Erie County ends in 2023. NFL Commissioner Roger Goodell is on record emphasizing that the team eventually needs to consider building a new stadium. That said, the existing facility has undergone significant renovations over the course of its now 47-year lifespan, including a $130 million facelift after the Pegulas bought the franchise.
In the grand scheme of things, though, it appears that this news is the latest example of a curveball getting thrown at NFL teams trying to navigate the economic impact of COVID-19. And it certainly won’t be the last.
