Schumer will release details at Ralph Wilson Stadium on Wednesday.
The announcement comes as negotiations are under way with Erie County and New York state to extend the Bills' stadium lease. The current deal expires in July 2013.
National Football League Commissioner Roger Goodell also is in western New York on Wednesday, to lecture at the Chautauqua Institution. Goodell says he spoke with Schumer on Tuesday but declined to disclose details.
Though the Bills' 93-year-old owner, Ralph Wilson, has maintained he has no intention of selling the team during his lifetime, there's worry in Buffalo about what might happen to the franchise upon his death.