T master Posted July 30, 2014 Share Posted July 30, 2014 So the bidding has started from those who care to buy our beloved Buffalo Bills . I went to my first Bills training camp the other day at St. John fisher & it was great to see the Bills hard at work , trying to do all they can to end their play off drought . When i got back to my hotel room i did some reading about those that want to buy the team & was wondering just what Mary would do if the high bid came in from the Toronto group led by the now villain Jon Bon Jovi ? With Mary knowing that Ralph's love for his team & him wanting to keep the Bills in Buffalo do you think that Mary would take less money to do so ? Say if knowing that Terry Pegula is a man after Ralph's vision of the Bills staying in Buffalo & say the Toronto groups bid is $500 K to $1 Mill more than Pegula's or let's say Golisano's even , because those 2 men would keep the Bills in Buffalo do you think Mary knowing her late husbands love for the team & all he has done for the city through the team , would she take a bit less to keep them where they belong ? I think with the connection that Mary her self has with western NY & with the legacy that her late husband has left on the region , i believe that she would take less to keep her husbands team in the only city it has ever known !! Or do we know is the final say even hers ? Or did Ralph leave specific directions for the club to be sold to the highest bidder so that the family didn't have any burden what so ever in the ale of the team ? What do you think ? Link to comment Share on other sites More sharing options...
BringBackFergy Posted July 30, 2014 Share Posted July 30, 2014 I think this subject has been covered in about ten different threads. The fiduciary duty of the trustees is to obtain the best price for the benefit of the Trust beneficiaries. In this case, one of the Trustees is also a beneficiary (i.e. Mary). I would also assume Mary has the ear of other beneficiaries (i.e. Children). To that end, my guess is Mary has already told the children that any offer that is reasonable and maintains a tie to Buffalo should be accepted. The other Trustees will probably get a written acknowledgement from the beneficiaries if they are on board with this "wink, wink agreement" in order to cover their asses. As it turns out, the local guy may be the highest bidder anyway, so there is no need to address this question. Viva El Pegual!!! Link to comment Share on other sites More sharing options...
thebandit27 Posted July 30, 2014 Share Posted July 30, 2014 In Link to comment Share on other sites More sharing options...
Guffalo Posted July 30, 2014 Share Posted July 30, 2014 I think this subject has been covered in about ten different threads. The fiduciary duty of the trustees is to obtain the best price for the benefit of the Trust beneficiaries. In this case, one of the Trustees is also a beneficiary (i.e. Mary). I would also assume Mary has the ear of other beneficiaries (i.e. Children). To that end, my guess is Mary has already told the children that any offer that is reasonable and maintains a tie to Buffalo should be accepted. The other Trustees will probably get a written acknowledgement from the beneficiaries if they are on board with this "wink, wink agreement" in order to cover their asses. As it turns out, the local guy may be the highest bidder anyway, so there is no need to address this question. Viva El Pegual!!! Viva Pegula indeed!! Link to comment Share on other sites More sharing options...
Max997 Posted July 30, 2014 Share Posted July 30, 2014 (edited) Mary sure did hit the jackpot didnt she at this point I will be shocked if its not Pegula...the NFL owners are a tight bunch but from what I read are all for Pegula. That is huge IMO bc they have to signoff on whoever the winning bidder is Edited July 30, 2014 by Max997 Link to comment Share on other sites More sharing options...
TheFunPolice Posted July 30, 2014 Share Posted July 30, 2014 I think Mary's decision= Ralph's wishes They were a team, and she cares deeply about her husband's legacy. Link to comment Share on other sites More sharing options...
mrags Posted July 30, 2014 Share Posted July 30, 2014 In lol. In Link to comment Share on other sites More sharing options...
papazoid Posted July 30, 2014 Share Posted July 30, 2014 she will follow ralph's wishes. his last gift to the buffalo & wny faithful. an owner who will keep the bills in town for another 50 years. long live kim & terry. Link to comment Share on other sites More sharing options...
3rdand12 Posted July 30, 2014 Share Posted July 30, 2014 (edited) I think this subject has been covered in about ten different threads. The fiduciary duty of the trustees is to obtain the best price for the benefit of the Trust beneficiaries. In this case, one of the Trustees is also a beneficiary (i.e. Mary). I would also assume Mary has the ear of other beneficiaries (i.e. Children). To that end, my guess is Mary has already told the children that any offer that is reasonable and maintains a tie to Buffalo should be accepted. The other Trustees will probably get a written acknowledgement from the beneficiaries if they are on board with this "wink, wink agreement" in order to cover their asses. As it turns out, the local guy may be the highest bidder anyway, so there is no need to address this question. Viva El Pegual!!! Good answer for the un initiated. Very good , though biased. . But correctly biased . so well done the BBFall 8 posts have been spot on. well said Gents and Ladies . Very damned fine time to be Bills fan. I would like everyone to take notice of my signature. It's my original and been my belief since i signed on here and why i did so. We aren't out of the woods yet , but the Bull are strong and the wind is at the Buffalo Bills back for once in many a year. Hang ten Folks ! she will follow ralph's wishes. his last gift to the buffalo & wny faithful. an owner who will keep the bills in town for another 50 years. long live kim & terry. Indeed . That is my belief too. Edited July 30, 2014 by 3rdand12 Link to comment Share on other sites More sharing options...
seq004 Posted July 30, 2014 Share Posted July 30, 2014 (edited) I believe she will choose what Ralph wanted and Terry and Kim will be awarded the Bills. Edited July 30, 2014 by seq004 Link to comment Share on other sites More sharing options...
KDIGGZ Posted July 30, 2014 Share Posted July 30, 2014 Viva Pegula indeed!! Rodak sux Link to comment Share on other sites More sharing options...
maddenboy Posted July 30, 2014 Share Posted July 30, 2014 (edited) I think this subject has been covered in about ten different threads. The fiduciary duty of the trustees is to obtain the best price for the benefit of the Trust beneficiaries. Not so fast, Batman. A trustee is not an auction house. Generally, a trustee has a fiduciary duty to the trust and, ultimately, to the beneficiaries. However, the trustee's primary duty / allegiance / purpose / motive is to effect the terms of the trust. So, until we see the trust (which we probably never will), we wont know if there are terms in there that would override any general fiduciary obligation. For example, Mr. Ralph may have included discretion, or even obligation, to accept less money to keep the team in Buffalo. Or maybe Erie County is one of the named beneficiaries (as owner of the Ralph) and it would of course be in that beneficiary's financial interest to accept (a little) less $$ to keep the team here. Or dozens of other possibilities. Edited July 31, 2014 by maddenboy Link to comment Share on other sites More sharing options...
BringBackFergy Posted July 31, 2014 Share Posted July 31, 2014 Not so fast, Batman. A trustee is not an auction house. Generally, a trustee has a fiduciary duty to the trust and, ultimately, to the beneficiaries. However, the trustee's primary duty / allegiance / purpose / motive is to effect the terms of the trust. So, until we see the trust (which we probably never will), we wont know if there are terms in there that would override any general fiduciary obligation. For example, Mr. Ralph may have included discretion, or even obligation, to accept less money to keep the team in Buffalo. Or maybe Erie County is one of the named beneficiaries (as owner of the Ralph) and it would of course be in that beneficiary's financial interest to accept (a little) less $$ to keep the team here. Or dozens of other possibilities. Completely agree...which is why I ended it by saying if there was an informal note from Ralph to keep it local, then El Pegual meets both criteria for the trust (price and commitment to Buffalo). I'm with you Kimoslobby. Link to comment Share on other sites More sharing options...
TSNBDSC Posted July 31, 2014 Share Posted July 31, 2014 Stayin Link to comment Share on other sites More sharing options...
clearwater cadet Posted July 31, 2014 Share Posted July 31, 2014 It not over till its over Link to comment Share on other sites More sharing options...
White Linen Posted July 31, 2014 Share Posted July 31, 2014 Mary sure did hit the jackpot didnt she at this point I will be shocked if its not Pegula...the NFL owners are a tight bunch but from what I read are all for Pegula. That is huge IMO bc they have to signoff on whoever the winning bidder is I think it's a plus but I don't think it's huge in terms of having much bearing on the sale. Link to comment Share on other sites More sharing options...
Augie Posted July 31, 2014 Share Posted July 31, 2014 It's never over until it's over, but a quick glance at the potential ownership groups makes it seem pretty simple to me. Trump? Seriously? One down. JBJ/Toronto? A group of multiple owners who present a lot of questions in terms of intended location, unknown lead owner, possible need for financing, potential lame duck ownership period if moving, etc. Still, it clearly COULD work. Pegula? A local hero who has already saved one major league sports team for WNY and has the cash to write a check for the whole deal and have plenty left in the bank. Get the offer close and it's a no brainer. Maybe even help him find the right price if need be. It's by far the best possible option. Yeah, lots of factors, but big picture is clear to me. Link to comment Share on other sites More sharing options...
Kelly the Dog Posted July 31, 2014 Share Posted July 31, 2014 If one believes in such things, Ralphie is looking down and smiling. This is playing out exactly as he likely wished. The Bills will be staying in Buffalo, he is being looked at as a hero, the team he spent his life on is in good hands with the Pegulas, the city is happy, the NFL owners are loving this and loving Ralphie even more because their own teams just went up a couple hundred million overnight and they get to save face and make an easy rubberstamp of a vote, and finally, his wife and his family are going to get 1.3-1.5 billion dollars, for doing the right thing, and will be considered heroes. Link to comment Share on other sites More sharing options...
CountryCletus Posted July 31, 2014 Share Posted July 31, 2014 In.... Kirby.... What do you think? Lol Link to comment Share on other sites More sharing options...
Mr. WEO Posted July 31, 2014 Share Posted July 31, 2014 (edited) I think Mary's decision= Ralph's wishes They were a team, and she cares deeply about her husband's legacy. He was barely cold in the grave when she auctioned off his prized Monets... Edited July 31, 2014 by Mr. WEO Link to comment Share on other sites More sharing options...
blzrul Posted July 31, 2014 Share Posted July 31, 2014 There are terms in the Trust of which we know nothing. Unlikes Wills, which become "public" when probated, Trusts (that are not created under a Will, of course, but that are separate instruments) do not get probated. Net-net, the terms are not known. It could well be, and I suspect it is true, that Ralph included instructions to the Trustee as part of that instrument. The man was 95 years old - he knew this was coming. He was not a stupid man. And just as he discussed futures with Kelly & Co, he could even have discussed with Pegula. Who knows. But everyone who assumes that the ONLY criterion is $$$ is, I suspect, making a mistake. I guess we'll find out soon enough though. Link to comment Share on other sites More sharing options...
jsswansonjr Posted July 31, 2014 Share Posted July 31, 2014 There are terms in the Trust of which we know nothing. Unlikes Wills, which become "public" when probated, Trusts (that are not created under a Will, of course, but that are separate instruments) do not get probated. Net-net, the terms are not known. It could well be, and I suspect it is true, that Ralph included instructions to the Trustee as part of that instrument. The man was 95 years old - he knew this was coming. He was not a stupid man. And just as he discussed futures with Kelly & Co, he could even have discussed with Pegula. Who knows. But everyone who assumes that the ONLY criterion is $$$ is, I suspect, making a mistake. I guess we'll find out soon enough though. Agreed, there should be far more than just money entering into the decision. Link to comment Share on other sites More sharing options...
TheFunPolice Posted July 31, 2014 Share Posted July 31, 2014 He was barely cold in the grave when she auctioned off his prized Monets... Did you give any thought to this post? I'll just chalk this comment up to knowing very little about Mr. Wilson and his family. Anyone who has interacted with Mary at any of the various charity events she has been to (not to mention Mr. Wilson's memorial at the stadium) would never say something so hurtful. Link to comment Share on other sites More sharing options...
clearwater cadet Posted August 1, 2014 Share Posted August 1, 2014 They are reporting they are re opening the bidding again, why? He bought the team for 25,000, can sell it for over a billion, made 100's of millions along the way, not including all the freebie tax payer handouts. If the estate is so concerned about us then why reopen the bidding? They have a local buyer who will commit to WNY, and will try to use the team to help revive the area. Remember a true friend will always stab you in the front. Link to comment Share on other sites More sharing options...
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