jahbonas Posted April 11, 2014 Share Posted April 11, 2014 We see now the multiple vultures who may come into bid for the Buffalo team. It seems clear now that Ralph easily could have done the following but refused to: 1- Secured a sale before his death to an owner dedicated to Buffalo 2- Secured that price for near Billion dollars for his family 3- He refused to do this - why? so the sale price might even be higher Can anyone on this board imagine being 90+ years old and not taking that deal where your family is more than taken care of AND millions of supporters are left happy for generations? Instead Ralph took the path that could jeapordize the relocation of the team but return a higher dollar and we are supposed to praise this choice? you have to be kidding me..... HOPING a Buffalo group buys and secures this team.....but this all could have been GUARANTEED for us fans AND guaranteed near billion dollar sale for his family.... yet chose not to do this.... I say shame on him...... Link to comment Share on other sites More sharing options...
May Day 10 Posted April 11, 2014 Share Posted April 11, 2014 if he sold the team, the sale price would be taxed. Then the money would be taxed when passed down. This way, his family gets hit 1x I believe Also remember, he was also likely "planning" on living past 100. Link to comment Share on other sites More sharing options...
Malazan Posted April 11, 2014 Share Posted April 11, 2014 ugh....really? Link to comment Share on other sites More sharing options...
CodeMonkey Posted April 11, 2014 Share Posted April 11, 2014 I say shame on him...... I say don't feed the troll. Link to comment Share on other sites More sharing options...
jahbonas Posted April 11, 2014 Author Share Posted April 11, 2014 I say don't feed the troll. So you consider allowing Toronto and other investors into a bidding process is better than avoiding a bidding process completely??? and still achieve a sale price near 1 billion??? Link to comment Share on other sites More sharing options...
silvermike Posted April 11, 2014 Share Posted April 11, 2014 Or Ralph could have moved the team to LA in 1997. Link to comment Share on other sites More sharing options...
thebandit27 Posted April 11, 2014 Share Posted April 11, 2014 So you consider allowing Toronto and other investors into a bidding process is better than avoiding a bidding process completely??? and still achieve a sale price near 1 billion??? Who said Toronto is being allowed to bid? As far as I know, the team isn't up for auction, nor will it be. The trust has the right to sell to anyone they wish, as far as anyone is aware. I'm also curious what makes you think that there aren't any plans in the works? Is it merely because you haven't heard that? Link to comment Share on other sites More sharing options...
Luxy312 Posted April 11, 2014 Share Posted April 11, 2014 We see now the multiple vultures who may come into bid for the Buffalo team. It seems clear now that Ralph easily could have done the following but refused to: 1- Secured a sale before his death to an owner dedicated to Buffalo 2- Secured that price for near Billion dollars for his family 3- He refused to do this - why? so the sale price might even be higher Can anyone on this board imagine being 90+ years old and not taking that deal where your family is more than taken care of AND millions of supporters are left happy for generations? Instead Ralph took the path that could jeapordize the relocation of the team but return a higher dollar and we are supposed to praise this choice? you have to be kidding me..... HOPING a Buffalo group buys and secures this team.....but this all could have been GUARANTEED for us fans AND guaranteed near billion dollar sale for his family.... yet chose not to do this.... I say shame on him...... In order: Ralph has kept the Bills in Buffalo for 50+ years. He could have sold out years ago. Securing the "price" for his family prior to his death would COST his family another $200 million in tax liability. He would not have been doing them a favor. He refused to do this because he's a shrewd business person and specifically for his family. I can imagine doing exactly what he did because I'm not an idiot. No shame here at all. Good job for Ralph! Link to comment Share on other sites More sharing options...
Security Posted April 11, 2014 Share Posted April 11, 2014 I like security Link to comment Share on other sites More sharing options...
machine gun kelly Posted April 11, 2014 Share Posted April 11, 2014 In order: Ralph has kept the Bills in Buffalo for 50+ years. He could have sold out years ago. Securing the "price" for his family prior to his death would COST his family another $200 million in tax liability. He would not have been doing them a favor. He refused to do this because he's a shrewd business person and specifically for his family. I can imagine doing exactly what he did because I'm not an idiot. No shame here at all. Good job for Ralph! I tend to agree. I'm sure some of you read Ralph would have been hit with capital gains, and estate taxes if sold while alive. This would be almost half of the net worth thanks to Obama for jumping up both taxes from the previous administration. I suspect there has been a succession plan in the works for awhile, and one that would be expected to get approved by the owners. I also think this is more about pressuring NYS to pony up more money for anew stadium. What most are not discussing in the LA market is the owner would have to foot the bill for a new stadium with little coming from CA. They are the most underwater state in the union as they are worse than NY in taking, and providing so many unnecessary services. Unfortunately three of the last companies I've worked for in the last 15 years have home offices in CA so I am there often. So for a new owner, he's looking at 1 bil for the team, 1 bil for the stadium, and $200 mil for the transfer costs. Toronto is a bigger threat, but this Bon jovi thing doesn't make sense. The NFL likes having a single owner, rather than an ownership group. They want a cash heavy owner who can foot the bill, and has a large net worth. That leaves the Jacobs, and Pegula persons as lead candidates. I'm betting one of these people will have the team. I see the secrecy as driving more funds again for the new state of the art stadium. If it were really fantastic, you wonder would they ever consider a Buffalo SB. I seriously doubt it, but you would have Niagara Falls as an attraction if the stadium were built up there. Link to comment Share on other sites More sharing options...
Lurker Posted April 11, 2014 Share Posted April 11, 2014 yet chose not to do this.... Link? Personally, I wish I'd chosen not to open this thread... Link to comment Share on other sites More sharing options...
Bocephuz Posted April 11, 2014 Share Posted April 11, 2014 If Ralph would have sold the Bills for $1 Billion while he was alive he would have had to pay roughly $400 - $500 million dollars in captial gains taxes because he would have been taxed on the gain he had above the original cost basis ($25,000) he paid for the team back in 1959. Bottom line... the Wilson family ends up with $500 million from the sale if Ralph sells while he is alive. Since he did not sell and the team went to his trust upon his death... the cost basis now shifts up to the value of the franchise at date of death ( probably $900 mil or so). So if the team sells for $1.5 Billion let's say.. then Ralph's family only pays taxes on the $600 million gain ( probably $200 - $300 million in taxes). Wilson family ends up with $1.2 Billion dollars for selling the team after his death. So you're saying Ralph is wrong for waiting until he died to sell the team and wanting his family to gain an addtional $700 million for the sale of the team?????? I think he's already done enough for WNY by agreeing to that $400 million relocation clause ... Link to comment Share on other sites More sharing options...
May Day 10 Posted April 11, 2014 Share Posted April 11, 2014 I was as uncomfortable with Wilson's ownership and management as anybody, but I would never expect him to just sign $100's of millions to the government. I do think there should have/could have been something done to help lock in the future more, such as sell off a small piece. Maybe there is/was some sort of instruction to accompany the sale/trust. This lease agreement also seems favorable in allowing us the opportunity to keep the team. Mr Wilson also created the Bills and they have been here >50 seasons! He also was historically against relocations in the NFL. Im not going to completely sugarcoat it though. He was a colossally bad owner when it comes to a quality football team. Its the past now. The best we can do is worry on the present and future and think positively. I get excited when I think of new ownership with no black cloud of whats around the bend Link to comment Share on other sites More sharing options...
Lurker Posted April 11, 2014 Share Posted April 11, 2014 f- him ignore you Fixed. The recent report that a deal could be done as early as October suggest due diligence has been underway for some time...putting all your points into the dust bin of the interweb... Link to comment Share on other sites More sharing options...
CodeMonkey Posted April 11, 2014 Share Posted April 11, 2014 Its the past now. The best we can do is worry on the present and future and think positively. I get excited when I think of new ownership with no black cloud of whats around the bend That's the best attitude to have in my opinion. Because unless Mrs. Wilson is lurking here, there isn't anything any one of us can do about it. Link to comment Share on other sites More sharing options...
ExWNYer Posted April 11, 2014 Share Posted April 11, 2014 I like security Narcissist... Link to comment Share on other sites More sharing options...
Tim Anderson's Lunch Pail Posted April 11, 2014 Share Posted April 11, 2014 Some fan... Link to comment Share on other sites More sharing options...
TSNBDSC Posted April 11, 2014 Share Posted April 11, 2014 Stayin Link to comment Share on other sites More sharing options...
Billsguy Posted April 11, 2014 Share Posted April 11, 2014 Toronto is still the heavy favorite to land the Bills. I would say it looks like 80% likely. The Bills remaining in Buffalo at 20%. Link to comment Share on other sites More sharing options...
HeHateMe Posted April 11, 2014 Share Posted April 11, 2014 Couldn't he have just ensured a deal upon his death and not before it so it wouldn't trigger this double taxation? I think that may be what the OP is talking about? If possible that would make the most sense to avoid throwing money away and ensuring the Bills stay in town. Link to comment Share on other sites More sharing options...
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