Vic Carucci says Bills to make major changes

[PromoTheRobot]

The former owner of the Redskins, Jack Kent Cooke, had it in his will that the team would be sold after his death and the proceeds would go to a non-profit. The money went to the Jack Kent Cooke Foundation that channeled funds for education. The owner's son, who expected to inherit the team, was left out in the cold. What followed afterwards were legal challenges from competing buyers. The end result was that Daniel Snyder who was originally a minority partner with Millstein (sic) ended up the majority buyer when the commissioner's office wouldn't approve of Millstein as a buyer. The reason why Millstein, a NY billionaire developer, was not considered fit was that whenver he had a dispute with anyone he would sue them into submission. The NFL owners' club didn't need that type of potential aggravation.

 

There are a variety of ways to lesson the affect of the inheritance tax. You have to prepare to do it much prior to being deceased. The owner of the Bills never considered it because he never cared to. Ralph is Ralph.

I think you are dead wrong here. Ralph has made many plans...just not the ones you want.

 

What is the best way to beat the inheritance tax? By borrowing all the value of your asset BEFORE you pass on. That way you get to enjoy the equity of your holdings without havng to sell. Don't be shocked to learn that Ralph mortgaged the Bills to the nines. That's why he doesn't spend any money on coaches etc., and why he won't sell a minority interest now. He can't without revealing the Bills are owned by the banks. All his money goes for interest payments on his $900M loans. The Bills will be sold to settle Ralph's debts. His family has all the money now and there will be nothing to tax when Ralph is gone. Genius, really.

 

PTR

[BuffOrange]

Best thing I've read/seen all year. Including any of the games of course.

[Lofton80]

Probably correct. RW is from an insurance backgound and lives in Grosse Pointe. I am he has recd some good planning advice.

 

 

I think you are dead wrong here. Ralph has made many plans...just not the ones you want.

 

What is the best way to beat the inheritance tax? By borrowing all the value of your asset BEFORE you pass on. That way you get to enjoy the equity of your holdings without havng to sell. Don't be shocked to learn that Ralph mortgaged the Bills to the nines. That's why he doesn't spend any money on coaches etc., and why he won't sell a minority interest now. He can't without revealing the Bills are owned by the banks. All his money goes for interest payments on his $900M loans. The Bills will be sold to settle Ralph's debts. His family has all the money now and there will be nothing to tax when Ralph is gone. Genius, really.

 

PTR

[Buffalo_Stampede]

I think you are dead wrong here. Ralph has made many plans...just not the ones you want.

 

What is the best way to beat the inheritance tax? By borrowing all the value of your asset BEFORE you pass on. That way you get to enjoy the equity of your holdings without havng to sell. Don't be shocked to learn that Ralph mortgaged the Bills to the nines. That's why he doesn't spend any money on coaches etc., and why he won't sell a minority interest now. He can't without revealing the Bills are owned by the banks. All his money goes for interest payments on his $900M loans. The Bills will be sold to settle Ralph's debts. His family has all the money now and there will be nothing to tax when Ralph is gone. Genius, really.

 

PTR

I dont know if it goes with what your saying, but I remember someone in the media say that the Bills get loans from the bank to pay all their bonus money. This guy said it in a negative way though, saying the Bills had no money.

[JohnC]

I think you are dead wrong here. Ralph has made many plans...just not the ones you want.

 

What is the best way to beat the inheritance tax? By borrowing all the value of your asset BEFORE you pass on. That way you get to enjoy the equity of your holdings without havng to sell. Don't be shocked to learn that Ralph mortgaged the Bills to the nines. That's why he doesn't spend any money on coaches etc., and why he won't sell a minority interest now. He can't without revealing the Bills are owned by the banks. All his money goes for interest payments on his $900M loans. The Bills will be sold to settle Ralph's debts. His family has all the money now and there will be nothing to tax when Ralph is gone. Genius, really.

 

PTR

 

I doubt that Ralph has borrowed to the max off of his assets. Why would he do that? He is 90 yrs old. Why would he incur such a debt load when he is at this stage in his life. If he did leverage his assets what did he do with the borrowed money?

 

Whether Ralph's estate has to pay an onerous inheritance tax or whether he would have to pay a long term capital gains tax if he sold his team prior to his death his beneficiaries will still be well compensated. The owner has made more than a quarter billion dollars over the past 10 yrs. He and his family are well situated. Remember, his initial investment was $25,000 a half century ago. I don't begrudge him that he has done well for himself. More power to him.

 

From what I know about Ralph and his lifestyle he isn't much of spendthrift or lives a very extravagant lifesyle. The man is 90 yr old. How much is enough, especially at this stage in his life?

 

There were a variety of ways for the owner to execute a strategy to ensure the team would stay in western NY and still be well compensated for his "asset". The owner never was interested or cared about it. He is going to do what he always planned on doing: auctioning off the team to the highest bidder. If that scenario resulted in the relocation of the franchise then from his view (from the graveyard) so be it.

 

Recently, when one of the Rooney brothers wanted to sell his share of the team for estate planning purposes he had the opportunity to sell his portion of the team to a non family member for a higher price. He didn't do it. He sold his significant amount of shares to his brother for a lesser price because he felt it was the right thing to do. That is something the Ralph could never do because it is not in his DNA to lose money when he has the opportunity to make more money. Ralph is Ralph.

[Arkady Renko]

He said pretty much the same thing on Sirius last weekend. He also predicted that Brandon would be the only one left, but strictly in marketing. Also, that the overall talent level on the team was so low that 1/2 to 2/3 of the roster could be gone, no big deal or loss.

 

If true, then we must have amazing coaches to make them play as well as they do.

[JohnC]

I dont know if it goes with what your saying, but I remember someone in the media say that the Bills get loans from the bank to pay all their bonus money. This guy said it in a negative way though, saying the Bills had no money.

 

Do they borrow money to pay bonuses? I'm wouldn't be surprised if they do. The borrowing has to do with dealing with immediate cash flow issues rather than long term capital issues. The team is payed for and the owner didn't pay for the stadium. It was built for him. The owner has virtually no debt on his nearly billion dollar asset. Over the past 10 yrs. the owner has made more than a quarter of a billion dollars profit off of his franchise (according to Forbes). Don't worry about the owner. He certainly knows how to make money. However, putting an entertaining and winning team on the field is an endeavor he hasn't mastered.

[BillsfaninFl]

Now that should make Bills fans smile today.

 

http://chat.nfl.com/front/index/564

 

Carucci must have come home to visit family in Buffalo. He feels the community's pain and is wishing something good will happen.

[Buffalo_Stampede]

Carucci must have come home to visit family in Buffalo. He feels the community's pain and is wishing something good will happen.

I think he lives here.

[Dan]

I doubt that Ralph has borrowed to the max off of his assets. Why would he do that? He is 90 yrs old. Why would he incur such a debt load when he is at this stage in his life. If he did leverage his assets what did he do with the borrowed money?

 

Whether Ralph's estate has to pay an onerous inheritance tax or whether he would have to pay a long term capital gains tax if he sold his team prior to his death his beneficiaries will still be well compensated. The owner has made more than a quarter billion dollars over the past 10 yrs. He and his family are well situated. Remember, his initial investment was $25,000 a half century ago. I don't begrudge him that he has done well for himself. More power to him.

 

From what I know about Ralph and his lifestyle he isn't much of spendthrift or lives a very extravagant lifesyle. The man is 90 yr old. How much is enough, especially at this stage in his life?

 

There were a variety of ways for the owner to execute a strategy to ensure the team would stay in western NY and still be well compensated for his "asset". The owner never was interested or cared about it. He is going to do what he always planned on doing: auctioning off the team to the highest bidder. If that scenario resulted in the relocation of the franchise then from his view (from the graveyard) so be it.

 

Recently, when one of the Rooney brothers wanted to sell his share of the team for estate planning purposes he had the opportunity to sell his portion of the team to a non family member for a higher price. He didn't do it. He sold his significant amount of shares to his brother for a lesser price because he felt it was the right thing to do. That is something the Ralph could never do because it is not in his DNA to lose money when he has the opportunity to make more money. Ralph is Ralph.

Somehow, I don't believe you. I'm not sure why? Maybe its the fact that every post you make disparages the man.

 

There's one thing you're forgetting. You assume Ralph made a Will however long ago and that's it.. now he's waiting to die. Don't you think he could have changed his Will several times over? Do you really think someone that has made as much money as Ralph has is just going to let the chips fall where they may after his passing? Selling your assets to the highest bidder is a lousy plan.. lousy. I would be absolutely shocked if that actually happens upon Ralph's passing. But, by all means, continue with your diatribe. It never gets old.

[Red]

Man, this post, the very idea that Ralph is not the East Coast version of Al Davis and out-of-touch and is actually paying attention and realizes that he overreacted after Donahoe left...makes my day!

 

This is the news I have been waiting for a long time.

 

There ARE too many proven guys out there to pass up. The Bills NEED this. People who KNOW WHAT THEY ARE DOING and have been there before are what this team needs. I'm tired of 2,3, or 5 year auditions of unproven, "hot" coordinators in the hopes that they come to fruition, because the Bills have been horrible predicting their selections.

 

Thank you Vic Carucci!

[Red]

Sorry, I forgot that teams never make signing mistakes

 

Are you nuts?!!?!?!?

 

A mistake is a one-time thing. "Ooops. Letting Pat Williams go was a mistake."

 

Decisions made on Antoine Winfield, Jason Peters, London Fletcher AND Pat Williams are more than "mistakes".

 

Darwin Walker, Langston Walker, Derrick Dockery, Robert Royal, Larry Triplett. Those are not mistakes. That is poor decision making.

 

Between the years 2000-2005, the Bills drafted 50 players. 50! How many are still with the team? 6.

 

This decade, Buffalo has had 12 first round picks. 6 are still with the team, 2 are questionable or on the way out (Whitner and McCargo, respectively), leaving 5 as worthy (Evans, Lynch, Wood, McElvin, and Maybin).

 

That is horrible! Consistent horror! The people currently in charge are not capable of their position.

 

Bye-bye, Modrak and Guy!

[apuszczalowski]

I disagree. Cowher will likely end up in Carolina, but he has plenty left to prove. He has never run an organization on his own from top to bottom , which is the level of power he has earned. We'll see what happens...

I bet he has also never thrown the winning pass in a SB, or kicked a winning FG, doesn't mean he will come out of retirement to do it. Does anyone know if Cowher even wants to run an organisation on his own from top to bottom? And how did he earn that level of power? By being a good coach? Most questioned Marv being given a try at GM after being a HOF coach.

 

My point is, Bill Cowher has done all he needs to as a coach and doesn't have to come back and prove anything. He can continue to live the stress free life of TV analyst until he finds a spot as a coach that he likes best for his family and himself. He doesn't need the money, or to try and gain respect, or win a championship. He will come back on his own term only, if he ever wants to

[papazoid]

the bills are a mess. there is no way Dick Jauron returns. the only way the bills will sell tickets next year is to create the false illusion of "hope" thru a head coaching change. i really don't see ralph bringing in a high profile coach either ( + $5 mil, like Cowher, Holmgren, Shanahan) who will also want to be the defacto GM over all personnel moves with an assistant to help do cap/contracts. i do see Russ Brandon staying on the business/sales side of things, but losing his football responsibilties. i would expect Ralph to hire a "proven" GM along the lines of Floyd Reese (former Tennesee GM and current New England Senior football advisor) and a proven 2nd tier coach along the lines of Marty Shottenheimer, Billick and possibly Gruden. it is unlikely the bills will go the "hot" coordinator route this time around.

[billnutinphoenix]

I am starting to think....Tony Dungy....good guy/smart football guy...

[billsfan89]

RW will bring in another T.O. or Drew Bledsoe during the off-season and fans will go crazy with (purchasing $) excitement.

 

And another 7-9 season will be in the future.

 

Uncapped year means less free agents will be available and those that are won't be affordable for Ralph. There isn't another TO out there for Buffalo this season. To me the logical (And cheaper choice) is to get a new head coach. Now am I naive to think that a Gruden or a Cower like big name will come here no BUT I do think that DJ will be gone unless this team goes bare minimum 8-8 or better and they already have 5 losses.

 

Now even if Russ and Co don't go the big name route I bet they fire Jauron and hire a coordinator (Odds are it won't be a big name coordinator like Russ Grimm either) and then pick up a few mid level free agents (Derrick Johnson and Chad Pennington types) and sell the fans on that.

 

So even if Ralph won't pay DJ's plus a Gruden's salary he will be willing to eat DJ's salary and hire a coordinator at half of DJ's price in order to sell the fans something new (and as I said throw in a few mid level free agents on top of that just to win over the skeptics).

[JohnC]

Somehow, I don't believe you. I'm not sure why? Maybe its the fact that every post you make disparages the man.

 

There's one thing you're forgetting. You assume Ralph made a Will however long ago and that's it.. now he's waiting to die. Don't you think he could have changed his Will several times over? Do you really think someone that has made as much money as Ralph has is just going to let the chips fall where they may after his passing? Selling your assets to the highest bidder is a lousy plan.. lousy. I would be absolutely shocked if that actually happens upon Ralph's passing. But, by all means, continue with your diatribe. It never gets old.

 

There is no doubt he made his will a long time ago. And there is no doubt that he has periodically updated his will. There is nothing unusual about that. That is the standard practice. If you don't believe that Ralph is not going to sell the team to the highest bidder then you are not only disagreeing with me but you are also disagreeing with the owner, himself. Ralph has clearly stated that the team will not be sold while he is alive and the team will be auctioned off to the highest bidder once he passes.

 

Larry Felser, the retired writer for the Buffalo News, and the person who successfully argued the case for Wilson's induction into the HOF has also made the point that the team will be auctioned off to the highest bidder at the owner's instructions. (If you so desire you can google Larry Felser-Bills auction.) Larry Felser has known the owner for the half century of his ownership. Felser considers him to be a friend.

 

If you really believe that Ralph Wilson has made arrangements after his death to keep the team in western NY out of the generosity of his spirit then you are fooling yourself. If the highest bidder of the team is from the area it will remain. If the highest bidder is from LA or Toronto the team is going to be moved. It is as simple as that.

[billsfan89]

There is no doubt he made his will a long time ago. And there is no doubt that he has periodically updated his will. There is nothing unusual about that. That is the standard practice. If you don't believe that Ralph is not going to sell the team to the highest bidder then you are not only disagreeing with me but you are also disagreeing with the owner, himself. Ralph has clearly stated that the team will not be sold while he is alive and the team will be auctioned off to the highest bidder once he passes.

 

Larry Felser, the retired writer for the Buffalo News, and the person who successfully argued the case for Wilson's induction into the HOF has also made the point that the team will be auctioned off to the highest bidder at the owner's instructions. (If you so desire you can google Larry Felser-Bills auction.) Larry Felser has known the owner for the half century of his ownership. Felser considers him to be a friend.

 

If you really believe that Ralph Wilson has made arrangements after his death to keep the team in western NY out of the generosity of his spirit then you are fooling yourself. If the highest bidder of the team is from the area it will remain. If the highest bidder is from LA or Toronto the team is going to be moved. It is as simple as that.

 

The only way I see Ralph trying to keep the team in Buffalo after he dies is if there is a bid out there that gives him great value for the team. OK this isn't likely but its the only way I see it going down. Ralph one day thinks hey I spent my whole life keeping this team in Buffalo why should I let some jackass from LA steal this team once I die. BUT the business man in Ralph says well I want my family to get the most from this team.

 

Now Ralph thinks well what is a way that I can try and keep this team here once I die BUT still have my family get ass loads of cash for it? Well he could organize a deal with that mysterious Jim Kelly group of investors that they get right of first refusal (Basically they get to buy the team before it goes to auction) if they can give 15% above estimated value (The team is right now valued at 900 million so 15% above that is a little over a billion) at the time of his death then they can buy the team before anyone else.

 

Ralph gets a good deal for his family (15% above value isn't too shabby) and he gets to run the team till he dies. He also lets the fans know that he did his best to try and keep the team in Buffalo. Honestly if Ralph did that I wouldn't be mad at all. And it would work out and make sense for Ralph as well.

[Dan]

There is no doubt he made his will a long time ago. And there is no doubt that he has periodically updated his will. There is nothing unusual about that. That is the standard practice. If you don't believe that Ralph is not going to sell the team to the highest bidder then you are not only disagreeing with me but you are also disagreeing with the owner, himself. Ralph has clearly stated that the team will not be sold while he is alive and the team will be auctioned off to the highest bidder once he passes.

 

Larry Felser, the retired writer for the Buffalo News, and the person who successfully argued the case for Wilson's induction into the HOF has also made the point that the team will be auctioned off to the highest bidder at the owner's instructions. (If you so desire you can google Larry Felser-Bills auction.) Larry Felser has known the owner for the half century of his ownership. Felser considers him to be a friend.

 

If you really believe that Ralph Wilson has made arrangements after his death to keep the team in western NY out of the generosity of his spirit then you are fooling yourself. If the highest bidder of the team is from the area it will remain. If the highest bidder is from LA or Toronto the team is going to be moved. It is as simple as that.

Well thanks for wasting 20 minutes of my life. I tried that and got a lotta natta, well unless you count the several TSW references. Oh well, my fault for being bored and trying to avoid doing what I really should be doing today. So where is this recent text of Ralph's Will that says he cares nothing about Buffalo and will put the team up for auction? Also, can you please provide some proof that the league will actually allow the team to be sold to the highest bidder?

 

While you're at it, provide some evidence that I or anyone else has said that "Ralph Wilson has made arrangements after his death to keep the team in western NY out of the generosity of his spirit". Myself, and a few others, have suggested that there are far better ways to estate plan than to die and sell off all your assets in an auction. Perhaps that is Ralph's plan. However, I'm of the opinion that Ralph has a little more intelligence than that. I'm not suggesting that he has solid plans to keep the team in Buffalo, mind you. I'm simply suggesting that it's logical to assume he's made provisions for the teaam after his passing and he's decided not to tell the world of those plans.

 

But, what you fail to realize is that the absolute only way for the Bills to absolutely stay in Buffalo is for Ralph Wilson to stay alive and continue to own the team. Once the team changes hands, regardless of who buys them... all bets are off. Unless, of course, the new owner promises to keep the team here and is as true to his word as Ralph has been regardless of the financial situation. But keep in mind, any new owner will suddenly be 100's of millions of dollars in debt and that can change a lot of priorities real fast.

[JohnC]

The only way I see Ralph trying to keep the team in Buffalo after he dies is if there is a bid out there that gives him great value for the team. OK this isn't likely but its the only way I see it going down. Ralph one day thinks hey I spent my whole life keeping this team in Buffalo why should I let some jackass from LA steal this team once I die. BUT the business man in Ralph says well I want my family to get the most from this team.

 

Now Ralph thinks well what is a way that I can try and keep this team here once I die BUT still have my family get ass loads of cash for it? Well he could organize a deal with that mysterious Jim Kelly group of investors that they get right of first refusal (Basically they get to buy the team before it goes to auction) if they can give 15% above estimated value (The team is right now valued at 900 million so 15% above that is a little over a billion) at the time of his death then they can buy the team before anyone else.

 

Ralph gets a good deal for his family (15% above value isn't too shabby) and he gets to run the team till he dies. He also lets the fans know that he did his best to try and keep the team in Buffalo. Honestly if Ralph did that I wouldn't be mad at all. And it would work out and make sense for Ralph as well.

 

Jim Kelly on wgr55 radio a few weeks ago stated that Ralph Wilson told him in no uncertain terms not to bring up the subject of buying the team from him. According to Jim Kelly the owner told him that he was being disrespected with the new ownership discussion. When asked to elaborate by the host, Howard Simon, he curtly told him that he won't discuss the matter. End of disucussion.