New Negotiations Underway with Erie County, and Bills for Long Term Lease

September 21, 2012 Updated Sep 21, 2012 at 8:02 AM EDT

By WKBW News

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September 21, 2012 Updated Sep 21, 2012 at 8:02 AM EDT

BUFFALO, NY (WKBW) - The Bills and Erie County which owns Ralph Wilson Stadium, have agreed in principal to a one year lease extension, as talks move forward. And both sides are in New York City today to try and hammer out an extended lease agreement.

At issue right now, is a $200 million price tag to upgrade Ralph Wilson Stadium, and where that money will actually come from, the current lease expires in July and the one year extension will allow more time for negotiations.

Senator Chuck Schumer says he's been in contact with the NFL and provided an brief update Thursday.

Erie County Executive Mark Poloncarz points out that re-negotiating the current lease, which contains over 1,000 pages, and is very complicated.

We'll continue to follow this story throughout the day look for updates on our website - WKBW.com, as well as our Facebook and Twitter pages.