Orchard Park, N.Y. (WBEN) - When the Buffalo Bills first projected any potential revenue from the sale of personal seat licenses (PSL), the team pegged the incoming revenue in the $225 million range.
Turns out the Bills were wrong.
In the team's latest filing with Empire State Development and its Erie County Stadium Corp. affiliate, the Bills said total PSL-driven revenues was just north of $259 million, or $34 million more than anticipated.
"The 'Bills Mafia' is economically powerful," said Shawn O'Rourke, Canisius University sports management professor.
According to the Bills' filing, all 54,628 PSLs were sold out by late December meaning that 60,108 seats are spoken for by season ticket holders and another 1,755 seats are committed to suite and loge seat holders.
The Bills have to set aside 3,725 seats for visiting teams, NFL representatives, marketing and community purposes.
In hard numbers, the Bills' generated $262.39 million in PSL-connected revenues but had $3.335 million in related expenses.
The team's net PSL revenues was $259,055,250 - with most of those funds being allocated towards the overall $2.2 billion development costs of new Highmark Stadium.
"It speaks volumes that people are dedicating this level of discretionary income towards the Bills," O'Rourke said.
The new stadium is slated to open this summer.