ORCHARD PARK, N.Y. (AP) — The projected cost of the Buffalo Bills’ new stadium soared until team officials told The Associated Press Friday it was “north of $2.1 billion of dollars,” with owners Terry and Kim Pegula responsible for raking in the more than $560 million in excess.

Bills President Pete Guelli said he wasn’t surprised by the amount, considering how the the numbers followed since work began 16 months ago. And he said the projected total represents the Pegulas’ commitment to the community, as they stick to their vision for the facility without cutting corners.

“To summarize, the Pegulas will not shy away from building a premier stadium in Buffalo,” Guelli said.

“It will be an exceptional experience for fans and an incredible place to play. I think we’re very proud to be able to build a facility like this in Buffalo and make it available to our fans,” he added. “We need this project to be a success for the team on and off the field, and it will be.”

Guelli said the increased costs would not impact the completion schedule. The stadium is being built across the street from the Bills’ current home and is expected to open by June 2026.

Taxpayers are committed a total of $850 million for the project — $600 million from the state and $250 million from the county. At the time of the deal two years ago, that was more than half the cost of construction, but now taxpayers will be responsible for about 40 percent. The bills are responsible for any overage exceeding $1.54 billion.

“I’m very happy to know that at the end of the day – and it’s still not done, so it could go even higher – that the county probably won’t have contributed more than 12 percent of the total cost, which is a very good deal,” Erie County Executive Mark Poloncarz told the AP.

The Pegulas now must pay $1.25 billion in construction costs, plus another $144 million as part of a community benefits package that will be spread out over the 30-year lease.

The Bills are funding their share through an NFL loan program and raising money through a first-time licensing fee for season ticket holders. Preliminary plans are also underway to create an entertainment zone, including restaurants, bars and shops, which will be built once the existing stadium is razed.

Pegula also raises funds by seeking to sell a minority share – no more than 25% – of the deductible, although Guelli said the reasons for this decision are not related to increasing construction costs. The Bills met with several interested groups over the summer and into September, and Pegula is expected to identify a new partner by the end of the year.

The Pegulas purchased the Bills for $1.4 billion from the estate of late Hall of Fame owner Ralph Wilson in 2014. Forbes recently valued the Bills at $4.2 billion.

The new building will seat about 60,000 people, compared to about 72,000 seats for the team’s existing stadium that opened in 1973 and is considered technologically obsolete and has cracks in its structure. Although the new stadium will not include a roof, it will feature curved sides to cover the majority of seats.

And unlike the current facility, which is oriented east-west, the new building is oriented north-south to better protect the fans from winds blowing from nearby Lake Erie.

John Polka, vice president of stadium development, said inflation has played a significant role in driving up prices by driving up the costs of construction materials. Two other contributing factors, he said, were increased labor costs and design features added after the Bills reached agreement with the state and county.

“We could have stopped at some point and said, let’s cut back. And that wasn’t the case at all. In some cases, we’ve gone back in recent months and said, ‘Hey, we have an idea or something that we think will improve the fan experience or give us a better competitive advantage,'” Polka said . “And it’s really a testament to the Pegulas’ statement: ‘This is what we want to build.’ We designed it. That was our intention. There were reasons behind it, and we’re going to move forward with that.

New York’s Empire State Development, which will oversee operation of the new stadium, noted that in addition to reducing the state’s share to approximately 29 percent, the negotiated agreement also resulted in the allocation of 462 million dollars in contracts to minority and women-owned businesses.

Guelli, who took over as president of the Bills and the Pegula-owned NHL Sabers in March highlighted the importance of what the new stadium represents by recalling Bills fans’ fears about the franchise’s move when he previously worked for the team in the 2000s.

“People were talking about the Bills potentially leaving and now there’s a $2 billion stadium that will be built across the street to keep the team in Buffalo long term,” Guelli said. “It’s pretty rewarding for everyone to be a part of it, especially the Pegula family.”

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