TheChimp Posted March 6, 2010 Share Posted March 6, 2010 And she was supposed to be sitting there ready to start negotiating with Jim Kelly and his "people". Right? I seriously am starting to think that I dreamed that whole thing. Can anyone fill me on what happened with that whole deal? Link to comment Share on other sites More sharing options...
sweatpantsjoe Posted March 6, 2010 Share Posted March 6, 2010 I think you were dreaming the whole thing. Link to comment Share on other sites More sharing options...
Bob in STL Posted March 6, 2010 Share Posted March 6, 2010 And she was supposed to be sitting there ready to start negotiating with Jim Kelly and his "people". Right? I seriously am starting to think that I dreamed that whole thing. Can anyone fill me on what happened with that whole deal? Wake up and cut of your 10 foot beard Rip. Link to comment Share on other sites More sharing options...
Just Jack Posted March 6, 2010 Share Posted March 6, 2010 I think he has to die first. Link to comment Share on other sites More sharing options...
TheChimp Posted March 6, 2010 Author Share Posted March 6, 2010 Wake up and cut of your 10 foot beard Rip. Was that code for something??? Link to comment Share on other sites More sharing options...
DonInBuffalo Posted March 6, 2010 Share Posted March 6, 2010 A champion for small-market teams, Wilson has declared that the Bills won't remain in his family after he dies. The team Wilson has owned since its conception 50 years ago won't be passed to his wife, Mary, or his two daughters. Too many issues are involved to keep the team in the family, least of all steep inheritance taxes. http://sports.espn.go.com/nfl/columns/stor...&id=4379510 Link to comment Share on other sites More sharing options...
sharper802 Posted March 6, 2010 Share Posted March 6, 2010 And she was supposed to be sitting there ready to start negotiating with Jim Kelly and his "people". Right? I seriously am starting to think that I dreamed that whole thing. Can anyone fill me on what happened with that whole deal? People on this board made it up. Kelly doesn't have the money. There is going to be a lockout in 2011 and if Ralph dies between now and 2012 that's it for NFL in Buffalo. Link to comment Share on other sites More sharing options...
CarolinaBill Posted March 6, 2010 Share Posted March 6, 2010 He can give it to his wife as a gift or in a trust to avoid estate taxes, but he has to die first. After she sells the team the resulting profits can be distributed to his heirs, that can be in trust also. Link to comment Share on other sites More sharing options...
oddoublee Posted March 6, 2010 Share Posted March 6, 2010 Was that code for something??? lol...that was a joke; right? how old are you? Link to comment Share on other sites More sharing options...
JohnC Posted March 6, 2010 Share Posted March 6, 2010 He can give it to his wife as a gift or in a trust to avoid estate taxes, but he has to die first. After she sells the team the resulting profits can be distributed to his heirs, that can be in trust also. What he can do is very different from what he is going to do. The team is on the auction block when he passes, as per his instructions. Link to comment Share on other sites More sharing options...
THE GUY YELLING BEHIND YOU Posted March 6, 2010 Share Posted March 6, 2010 People on this board made it up. Kelly doesn't have the money. There is going to be a lockout in 2011 and if Ralph dies between now and 2012 that's it for NFL in Buffalo. Actually it has been well documented that Kelly would have to have an conglomeration of people to buy the team, which he stands fast that he has all arranged (ie Golisano or Jeremy Jacobs). I highly down Kelly would just come out and say it for the sake of saying it or to make us feel better. Now that does not guarantee anything, but he should be considered a viable candiadate when Mr. Wilson passes. I would even say more viable than that yo-yo in LA. I AM GOING TO SAY IT AGAIN...if anyone, from any where on this message board or abroad has ever been to a game in Jacksonville, you would see that "city" has no interest in NFL football. We draw 70,000 a game, they draw less than 50 or a little less....it is literally a JV situation. STOP IT!!! Link to comment Share on other sites More sharing options...
PromoTheRobot Posted March 6, 2010 Share Posted March 6, 2010 I'll believe Jim Kelly has the money and/or investors to buy the Bills when it happens. PTR Link to comment Share on other sites More sharing options...
Bob in STL Posted March 6, 2010 Share Posted March 6, 2010 Was that code for something??? No. That was a joke, referring to the story of Rip Van Winkle. Seriously, the rumors of Ralph's wife taking the team are probably only rumors. Certainly not an announced plan. If true, it does buy some time for a Buffalo contingent to put a deal together. Link to comment Share on other sites More sharing options...
The_Philster Posted March 6, 2010 Share Posted March 6, 2010 http://sports.espn.go.com/nfl/columns/stor...&id=4379510 Inheritance taxes don't apply to spouses People on this board made it up. Kelly doesn't have the money. There is going to be a lockout in 2011 and if Ralph dies between now and 2012 that's it for NFL in Buffalo. actually, the rumor came from someone who works at 97Rock...it was overheard at Ryan Miller's Catwalk for Charity 2 years ago and Kelly does know someone with plenty of money Link to comment Share on other sites More sharing options...
sharper802 Posted March 6, 2010 Share Posted March 6, 2010 Actually it has been well documented that Kelly would have to have an conglomeration of people to buy the team, which he stands fast that he has all arranged (ie Golisano or Jeremy Jacobs). I highly down Kelly would just come out and say it for the sake of saying it or to make us feel better. Now that does not guarantee anything, but he should be considered a viable candiadate when Mr. Wilson passes. I would even say more viable than that yo-yo in LA. I AM GOING TO SAY IT AGAIN...if anyone, from any where on this message board or abroad has ever been to a game in Jacksonville, you would see that "city" has no interest in NFL football. We draw 70,000 a game, they draw less than 50 or a little less....it is literally a JV situation. STOP IT!!! Agree Jacksonville is the worst city in the NFL. How many fans showed up for Cleveland Browns games before they left for Baltimore? Do you really think fans matter? If you do I am sad for you. Link to comment Share on other sites More sharing options...
THE GUY YELLING BEHIND YOU Posted March 6, 2010 Share Posted March 6, 2010 Agree Jacksonville is the worst city in the NFL. How many fans showed up for Cleveland Browns games before they left for Baltimore? Do you really think fans matter? If you do I am sad for you. I am sad for you if you don't get the fact that 70,000 people generate more money for the NFL than 50,000. Link to comment Share on other sites More sharing options...
Doc Posted March 6, 2010 Share Posted March 6, 2010 What he can do is very different from what he is going to do. The team is on the auction block when he passes, as per his instructions. Sorry John but that was disproven awhile ago. Link to comment Share on other sites More sharing options...
JohnC Posted March 6, 2010 Share Posted March 6, 2010 Sorry John but that was disproven awhile ago. I don't have a clue what you are talking about. Nothing unusual about that. Link to comment Share on other sites More sharing options...
IHAVEHADIT Posted March 6, 2010 Share Posted March 6, 2010 People on this board made it up. Kelly doesn't have the money. There is going to be a lockout in 2011 and if Ralph dies between now and 2012 that's it for NFL in Buffalo. There is no estate tax on the team if his wife gets it...it is called the unlimited marital deduction. The problem comes after she gets it. I believe the asset will receive a stepped up cost basis so the value of the team at the time of death will be where any appreciation would be calculated from....so basically, she could sell it for a billion dollars and only have appreciation on the value of the team at the time of Ralph's passing...not the original 25,000 he paid for the team...pretty sweet deal! Link to comment Share on other sites More sharing options...
bbb Posted March 6, 2010 Share Posted March 6, 2010 And she was supposed to be sitting there ready to start negotiating with Jim Kelly and his "people". Right? I seriously am starting to think that I dreamed that whole thing. Can anyone fill me on what happened with that whole deal? It's happening 1/15/11 Link to comment Share on other sites More sharing options...
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