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Ralph C. Wilson Foundation gets $1 BILLION from sale of Bills


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“Ralph cared very much for his hometown of Detroit and the people of Western New York, home of his beloved Bills, and I know his wishes to make a difference in those two areas will be important for us as trustees who are driven by our love and respect for Ralph,” Mary M. Wilson, Ralph C. Wilson Jr.’s widow, said in the statement. “Ralph’s generosity was also felt in other parts of the country where his life had been touched and these areas will be important to us going forward as they were important to Ralph.”

 

http://www.buffalonews.com/city-region/wilson-foundation-will-offer-grants-beginning-in-2016-20141210

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Impressive. Way to go Wilson's.

 

i still think the guy could have helped us avoid dropping $120m into a stadium they're gonna bulldoze by simply selling the team to Terry a few years ago (even if just a contract that isnt executed until his death) but it looks like he's more than making up for that waste of money with a monster foundation boost.

 

Leave it to Ralph to force me to like him even after he dies. Fine I'll say it: Ralph Aint Cheap

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If the money form the sale of the team did not go to his spouse, does the Trust pay taxes on it?

 

My understanding is that the money going to the charitable foundation is not taxed. Jack Kent Cooke took the same charitable foundation estate planning strategy to avoid the taxing of his estate. His money went to a foundation that provided college scholarships for DC residents. His son was not a beneficiary of his father's charitable largesse. He wasn't very happy about being left out of the will.

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talk about giving back to the community !!

 

that trust over the next 100 years will give back more to WNY than ralph ever got from us.

 

think of the John R Oshie Foundation on steroids: ralphs trust DWARFS (3 times bigger) the oshie trust

 

A Catalyst For Change

 

Our mission is to be a catalyst for change to enhance the economic vitality and quality of life for the Buffalo Niagara region through grantmaking, leadership and network building.

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My understanding is that the money going to the charitable foundation is not taxed. Jack Kent Cooke took the same charitable foundation estate planning strategy to avoid the taxing of his estate. His money went to a foundation that provided college scholarships for DC residents. His son was not a beneficiary of his father's charitable largesse. He wasn't very happy about being left out of the will.

 

SO Uncle Sam gets nothing on a sales transaction of 1.4 billion?

 

Also, is it possible that the source of a significant part of this largesse, by design, is Pegula himself? It seems he was never bidding against any other serious competitor (Bon Jovi, et al were just a diversion, ditto Trump), yet he shelled out what seems to be a seriously inflated price for a small market team with a regional following, few high rollers to spend on the boxes and no new stadium (and a state gov't that will not fund a new stadium).

 

Maybe, given that the trust would be the beneficiary and not the Wilson survivors, Pegula kicked in (over paid) as a way to give more money to the Buffalo region. I haven't seen any other explanation why he paid so much when there was no real "bidding war".

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"Ralph cared very much for his hometown of Detroit and the people of Western New York, home of his beloved Bills, and I know his wishes to make a difference in those two areas will be important for us as trustees who are driven by our love and respect for Ralph," Mary M. Wilson, Ralph C. Wilson Jr.'s widow, said in the statement. "Ralph's generosity was also felt in other parts of the country where his life had been touched and these areas will be important to us going forward as they were important to Ralph."

 

http://www.buffalone...n-2016-20141210

 

Too bad he couldn't use that money that made him this fortune to build a sustainable winner for the people that were giving him all this money all those years.

Edited by BuffaloBillsForever
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SO Uncle Sam gets nothing on a sales transaction of 1.4 billion?

 

Also, is it possible that the source of a significant part of this largesse, by design, is Pegula himself? It seems he was never bidding against any other serious competitor (Bon Jovi, et al were just a diversion, ditto Trump), yet he shelled out what seems to be a seriously inflated price for a small market team with a regional following, few high rollers to spend on the boxes and no new stadium (and a state gov't that will not fund a new stadium).

 

Maybe, given that the trust would be the beneficiary and not the Wilson survivors, Pegula kicked in (over paid) as a way to give more money to the Buffalo region. I haven't seen any other explanation why he paid so much when there was no real "bidding war".

 

My understanding is that Uncle Sam doesn't get any revenue from the transaction that went to the charitable foundation. As I said in a prior post Jack Kent Cooke of the Redskins did the same thing of selling the franchise and having the proceeds go to a charitable foundation, thus avoiding estate taxes.

 

Let's give Ralph Wilson some credit. He doesn't know much about football but he does know how to make a good deal for himself. The extravagant price Pegula paid had llittle to do with his generosity toward funding Wilson's foundation. He probably didn't even know about it.. When Pegula was asked why he spent so much for the team when there was a chance he could have bid less and still gotten the franchise his response was I wanted to make sure I got what I wanted to get. He added, from my perspective it is not overpaying if you get what you want and you can afford it.

 

If you recall prior to the bidding Pegula cashed out one of his assets for approximately $1.4 B. He set it aside for his bidding money and made it very publicly known to all the other bidders how far he was willing to go. That was his blow away the competitiion strategy that he employed. For him it wasn't about how much money he was willing to spend, it was about guaranteeing you get what you want.

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That's great, I hope there more to come, but if his family runs the trust the same way he ran the team. He all need to find a new role model.

It's just an odd thread to spew venom about the way he ran the team (and kept the team in WNY despite lots of interest from outside groups). It comes across as a little odd when someone donates a billion dollars to charitable endevaors. This feels like the thread to come say "good job Ralph" not "you used to be cheap paying coaches."
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That's great, I hope there more to come, but if his family runs the trust the same way he ran the team. He all need to find a new role model.

 

The person running the foundation is Littman. You can't find a more financially talented person to be involved with this type of endeavor.

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Has any of the billion gone anywhere yet expect to a non taxable account controlled by his niece and Littmen? When the foundation builds a school or curse the blind I will be happy.

 

You are obviously a very intelligent fellow. Do you have any positive comments to bless us with, or are you just to piss on a good thing?

Edited by todd
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Ralph's cheap

 

Like it or not, owners are judged by the product they put on the field, not the money they can't take with them.

 

We've lost sight of the agreement that allows privately owned sports franchises to earn the fanatical support of a fanbase.

 

The idea that the owner is committed to winning in the name of that fanbase.

 

Ralph was not committed to winning. He wanted to win. There is a difference. Committment and sacrifice go hand in hand and Ralph was too selfish and stubborn to do that with regard to his football team.

 

I'm not saying he was some kind of monster, but he didn't hold up his end of the bargain. He's not alone in this regard, plenty of owners aren't all-in to win, but the fact that we didn't get a respite from his mercurial leadership for 54 years was a bit cruel.

 

Subsequently the team created equal parts joy....from the fans being able to bond with each other......and misery from the very disappointing on-field product during his tenure.

 

I was watching some movie the other day and they were talking about the idea "from bad comes good". In the end, that really sums up Ralph to me.

 

He was a bad owner. But from that bad came a lot of good.

 

The community bonding and friendships formed around the shared fandom of this team are real and a great thing.

 

And IMO his selfish nature actually helped keep the team in Buffalo.

 

He knew if the team moved away Ralph Wilson Jr. would be completely forgotten in it's new city. Like he never existed.

 

He'll never be forgotten in Buffalo.

 

The billion he left behind will help him be long remembered even when the stadium in his name is long torn down. I'd actually be surprised if he doesn't get some naming or a statue at least at the new stadium.

 

I think it was orchestrated out the way it was for a reason. Timing is important in the appreciation game. The suspense he left in whether the team would stay or go heightened the appreciation when it stayed.

 

That's probably why I look on in bemusement rather than tears. NEVER ONCE did I think this team would leave Buffalo. Not even for Toronto. He didn't keep it here that long to just let his legacy turn to dust. Honestly the Don Esmondes of the world were complete fools for thinking otherwise.

 

I don't love or hate Ralph for the way he handled it. It ultimately was his to do with as he wished and he made that clear during his entire ownership. And he was RIGHT. He knew the fans would appreciate it more this way.

 

I think the Pegula's will bring a fresh approach. They may not be great winners, only time will tell, but I think the days of hiring yes men instead of football men and mysteriously drafting another RB in round 1 every third year are over! So I rejoice! I may even find some faith in these new owners! :beer:

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He did the best he could, and then..... HE GAVE AWAY A BILLION DOLLARS TO HELP OUR AREA. That's good enough for me. We all make mistakes. He made some too. The skeptics and critics could lighten up about now. I am thankful for such a loyal and generous owner who kept this team in WNY when it would have been so easy to cash in elsewhere.

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Has any of the billion gone anywhere yet expect to a non taxable account controlled by his niece and Littmen? When the foundation builds a school or curse the blind I will be happy.

Well, I am sure your happiness is their most important goal. Just wondering - why would they curse the blind?

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The first $50K went to the Red Cross in WNY.

 

Nothing to do with RW, but donations like this, generally 10% tops goes to help people, the rest to support the costs of the charitable foundation. Yeah I know everyone has to make a living and paid for their job, but still.....................

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Nothing to do with RW, but donations like this, generally 10% tops goes to help people, the rest to support the costs of the charitable foundation. Yeah I know everyone has to make a living and paid for their job, but still.....................

 

Please support that. Charities vary wildy, but to say 10% tops goes to the cause calls for support. My family has a lot of experience in the non-profit world - foundations and endowments for colleges, hospitals and communities with numbers approaching the billion we're talking about. (I only wish WE had funded the foundations!) Only the very worst could be anywhere near that pitiful 10% number, if any. This is not a bunch of blood suckers trying to live off of stolen money. They GAVE the money!

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Do any of the people who were complaining about the sale taking too long and the trust trying to squeeze every penny out of the sale wish to reconsider their stance?

my stance was please dont pump over $100mil into a dying stadium because the dying owner refuses to negotiate a sale of the team while he's still alive.

 

he didnt have to hand over the keys yet, but an agreement could have been reached with Pegula that would have helped the county save tens of millions. stupid money.

 

after sunday the bills will have played 7 home games for a grand total of 21 hours stadium time in 2014. maybe two more years and then it's bulldozed.

 

lot of school programs got cut because of that type of foolishness.

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Well, I am sure your happiness is their most important goal. Just wondering - why would they curse the blind?

I was wondering why they would curse the blind as well. The guy had his team sold and is donating a majority of the money to charity and to two cities that have fallen on hard times and are trying to rebuild themselves. How someone can complain and dig for faults in that is mind-boggling. But cursing the blind makes this guy happy...
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My understanding is that Uncle Sam doesn't get any revenue from the transaction that went to the charitable foundation. As I said in a prior post Jack Kent Cooke of the Redskins did the same thing of selling the franchise and having the proceeds go to a charitable foundation, thus avoiding estate taxes.

 

Let's give Ralph Wilson some credit. He doesn't know much about football but he does know how to make a good deal for himself. The extravagant price Pegula paid had llittle to do with his generosity toward funding Wilson's foundation. He probably didn't even know about it.. When Pegula was asked why he spent so much for the team when there was a chance he could have bid less and still gotten the franchise his response was I wanted to make sure I got what I wanted to get. He added, from my perspective it is not overpaying if you get what you want and you can afford it.

 

If you recall prior to the bidding Pegula cashed out one of his assets for approximately $1.4 B. He set it aside for his bidding money and made it very publicly known to all the other bidders how far he was willing to go. That was his blow away the competitiion strategy that he employed. For him it wasn't about how much money he was willing to spend, it was about guaranteeing you get what you want.

 

Maybe, but a businessman doesn't overpay when there is an option not to--you can bet he never overpaid for all that shale land he gobbled up. I think he's a genuinely good guy who saw what the trust was trying to do and he kicked in more (I would guess close to 25-30%) than he had to to win the team.

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Maybe, but a businessman doesn't overpay when there is an option not to--you can bet he never overpaid for all that shale land he gobbled up. I think he's a genuinely good guy who saw what the trust was trying to do and he kicked in more (I would guess close to 25-30%) than he had to to win the team.

 

I respectfully disagree with your interpretation of the situation. The family and those involved with the sale were trying to sell the notion that there were other bidders who were willing to up the price. The banking firm was trying to solicit additional bidders to keep the process moving upwards. Pegula could have been confident that he was going to win the bid because he knew how much higher he was going to go to win out. Stories were "floated" that the Toronto group was coming in with a $! B bid and there were stories that there were unidentified parties involved who wanted to enter the auction.

 

The Wilson family and their reps were very tight lipped about how they were going to handle their estate. They were determined in keeping it private and out of the public domain. So I am assuming that Pegula wasn't even aware that the sale proceeds were going to a nontaxable charitable foundation.

 

WEO, you are very much over-thinking how this auction happened. Ralph certainly wanted the team to remain in western NY and he wanted to get the maximum price. That shouldn't surprise you. In hindsight one can say the Pegula overpayed for the franchise but when it was going on he didn't know how much he needed to guarantee that he got what he desired. As I stated in a prior post Pegula was asked if he overpayed for the franchise. He said no because he got what he wanted.

 

There are people who are in such a rarified financial strata that the price of a desired product is not an issue. The Lakers sold for $2B when the value was at $1 B or less. Stevel Ballmer told Sterling's wife (in private) no matter what anyone bids I will pay you millions more. Pegula was determined to get the franchise and was willing to pay whatever it took to ensure that he got it. It's as simple as that! You need not complicate something that is relatively simple.

Edited by JohnC
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