clancynut
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Posts posted by clancynut
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Goodell did mention that he feels that Southern Ontario and WNY is all region. If that is the case could the NFL want to make sure the Bills remain where they are since there are approximately 15 million people between Toronto-Buffalo-Rochester?
Quote:To us, it’s all one region,” said Goodell. “While western New Yorkers might not think of it that way, it’s helping make this market be successful here by bringing fans down from Southern Ontario. So we want to continue to encourage that.”
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Finally starting to some love from ESPN.
From James Walker.
How far can these no-name Bills go this season?
If they play like they did Sunday, Buffalo will make the playoffs. But the Bills must shore up a porous defense if it wants to go much farther.
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Drank a Guiness during the first half and wore a Bills T Shirt. Forgot the Bills T Shirt last week
I got some this morning. The last 2 years, when I'm with my girlfriend and "watch (wink/wink)" the game..... WE WIN! 6-0!!!! Conclusion: SHE'S THAT GOOD!
Well done sir!!
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Noticed this in the post game coverage too.
"Michael Vick had an interception problem today"... yeah, just like "Tom Brady had an interception problem"
Their problem is called THE BUFFALO BILLS!!
Classic.
Billick did have a man crush on Vick the entire game.
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We need a First Down
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Need a scoring drive now!!
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Is anyone else sick of Billick's Love Fest about Vick?
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The Senator is a beast today!!!
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Nice opening drive in response to the INT at the end of the first half!!
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Did MSG get a hold of FOX's HD feed again?
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WOW that was a dumb play!!
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Wait a minute are they sure that was a catch?
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A smart little birdie said the tweet is about very much about ownership,a specific person or group which shall remain nameless, although it has nothing to do with any impending sale, or Ralph's health which is seemingly stable.
It may or may not be good for the Bills, but there surely are people with money who wish to keep the team in Buffalo. There is not going to be any announcement (I'm just assuming that myself). I doubt there will be any story in the press or information about it, but I suppose it's possible.
It's pretty good news though, if you're worried about the team moving. And it's not the only good news that will be coming out in the next several months. Stay tuned.
If this the case I will owe you a beer my friend!!!
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Didn't Robert Wegman pass his assets (Wegmans Supermarkets) on to his children prior to his death, thereby eliminating them from paying an estate tax for now. I was wondering if Wilson were to divide up the Bills into a specific percentage for each of his heirs now while still alive and then sell the team would the capital gains taxes be much lower than the estate tax? This would appear to make sense on why the team might be sold prior to his death.
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At least the article links to why Buffalo is the perfect fit for the Bills.
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I don't claim any particular education or expertise, but for an estate as big as Ralph's will be, the total overall tax burden created by giving stuff away before you die (rather than passing it through your will) is pretty negligible. There's something called the "gift tax" that comes into play for wealthy individuals like Ralph:
http://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax/INF12036.html
If you want more details, there's a pretty good explanation in the link.
Thanks for that I also found this article on Reuters.
"I don't think anybody in Congress realized this," said Michael Gooen, a tax and estate attorney at Lowenstein Sandler. The point is that not only will the $5 million estate-tax exemption ($10 million for a couple) remove the vast majority of formerly taxable estates from the estate tax, but rather that the higher gift-tax exclusion means that people with far larger estates than that -- think $50 million, $100 million, and up -- have the ability to shift assets out of their estates tax-free while they're alive. "You are going to see a flurry of estate planning," Gooen said.
Could this be the reason for a possible sale now?
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I have to admit I was a Kelsay Hater for a while as well. I think he spent the initial part of the 2010 season learning a new position and now is performing quite well. He will be missed on Sunday.
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Hopefully this means there is a plan in place to keep the Bills in Buffalo for the long term. Maybe Ralph agreed to purchase price with a potential buyer to make things easier for his estate when he passes? Also to any tax experts out there, what would be the tax burden to his heirs if he were to sell the team now and divide the profits amongst those named in his estate now prior to his death
P.S. Page 10!!!!
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I think in that scenario Ralph and his heirs are taxed twice: cap gains when he sells the team, estate when he leaves proceeds to his heirs.
Exactly correct. That is why he will not sell the team while he is alive because then he would have to pay BOTH capital gains tax on the profit (for argument's sake $800 million - $25,000) and then when he dies, his estate would have to pay estate tax on the value of his assets he owns at death (minus any property he bequeaths to his wife which falls under the marital exemption). (And no, if he bequeaths the team to his wife it won't help because then it will still be subject to estate tax on her death.)
Now 9 pages of speculation on a teenager's tweet.
Thanks for clearing this up.
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This is all pure speculation, but I wonder if a scenario like this is unfolding. Ralph is a savvy businessman and he realizes that there is a large difference to his estate based on the tax percentages between the estate tax and capital gains tax. I am by no means a financial guru, so if I am wrong flame away. It appears that right now the estate tax is 35% compared to 15% for capital gains. Therefore if the team was to be sold for 750 million under the estate tax the bill would be 262 million compared to 112 million under the capital taxes saving his estate 150 million. With all the publicity being given to Warren Buffett about changing the tax code, the capital gains tax is bound to increase. I know that Wilson has stated, most recently in 2007, that the team will never be sold while he is alive, but having an additional 150 million for his heirs might make him change his mind. Could he have agreed to sell the team with the understanding he maintains day to day control as long as he is able?
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This is not true. 1970 friend and I were in Florida for college break and went to Dallas media day when they played Colts. It was advertised in local Ft Lauderdale paper open to the public. It was at the old Yankee spring training ball park. Get this, there was only about 30 or so media at the event and my be 50 fans. We got to talk to Bob Lilly. So at least then anyone could go.
That's a great story thanks for sharing. Could you imagine the what media day would become 42 years ago?
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He goes to St. Joe's. What do you expect?
Is it Chad's fault he passed advanced coloring in Kindergarten, thereby making him ineligible to attend Canisius?
The Bills' method of winning is unsustainable.
in The Stadium Wall Archives
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I will be pretty upset if the Colts have this record and draft Andrew Luck!! I don't see the Bills matching 15-1 this year and even though we have Fitzpatrick passing on a once in a lifetime talent such as Luck would be the equivalent of drafting Sam Bowie. Bills Fans would Occupy One Bills Drive!! The Buddy is asleep jokes would be relentless!! There would be billboards all over WNY about how Ralph is cheap!! Not to mention how upset the teams that already beat the Colts this year would be about having to forfeit their wins!!
I know the poster meant to post 1-15, just having a little fun.
The way I look at it is, it took the Bills five games to win the same amount of games that it took sixteen to win last year. Since going 0-8 to start last year the Bills are now 8-5, this is a good team.