Investing in a PSL for the New Bills Stadium? Make Sure it is in Your Will

April 17, 2025

When the Buffalo Bills announced Personal Seat Licenses (PSL) would be part of the season ticket requirements for the new stadium, many fans in Western New York wondered what is a PSL and how exactly does it work?

A PSL is a contract to pay for the right and obligation to purchase Bills season tickets for a specific seat for the next 30 years.  The exact cost of a PSL varies depending on the seat’s location.  Reports have placed the price of a PSL in the end zone at $2,500 per seat, while premium locations reportedly range in the tens of thousands of dollars. The PSL license fee can be paid in a lump sum, in a short-term interest fee cash installment plan, or by third-party financing.  The PSL also requires the licensee to purchase season tickets annually.  Failure to timely purchase season tickets in any single year results in forfeiture of the PSL, and no amount paid by the PSL owner is refundable upon forfeiture.  The forfeited PSL can then be resold by the team to another interested party.

As is clear from these terms, a PSL requires Bills fans to make a significant long-term investment.  Not only must a PSL owner pay the initial license fee but also purchase season tickets for the next three decades.  Many fans, however, are willing to make this level of financial commitment for the opportunity to cheer on their team and enjoy the full-game experience with family and friends.

Given this long-term commitment, how can you make sure that you are protecting both your financial investment and control of the PSL license over its 30-year lifetime?  What if a PSL owner dies or suffers from a disability?  Who can be a beneficiary of your PSL?

Subject to certain restrictions, a PSL is generally considered a transferrable asset akin to personal property or other item of value that you own.  The PSL, therefore, can be transferred both during the PSL’s owner’s lifetime or upon death.  For example, you can transfer your PSL in your Will to a designated beneficiary.  It appears that a PSL can only be owned by a single individual at any given time, so you should consider who would be the most appropriate beneficiary in your Will to receive the license.  During an individual PSL owner’s lifetime, a PSL may also be transferred without prior consent to certain family members that include, among others, spouses, domestic partners, children, stepchildren, siblings, parents, stepparents, grandparents or grandchildren.  For transfers to persons other than such family members, the Bills require prior written consent.  It is important to note that no transfer may be made to a person who has been barred from entering, or has been removed from, the Bills stadium, or other stadium, ballpark, arena or similar venue.

So, if you have invested in PSLs with a 30-year lifespan, why would you not want to take steps to ensure that they are part of your estate plan?  Talk with your attorney to add your PSL to your estate plan. If you do not have a will, our team of Estate Planning attorneys works with clients in every conceivable economic position across all walks and stages of their lives to draft documents that protect their interests and give them piece of mind, while ensuring their estate is administered in accordance with their wishes.

Give me, or any member of our Estate Planning team, a call today and, whether you have a PSL or not, we can help you develop an estate plan that is right for you.

Katherine Liebner  focuses her practice in the areas of estate planning and estate and trust administration. She can be reached at 716.854.4300 ext. 236 or kliebner@gross-shuman.com