SectionC3 Posted November 10, 2008 Share Posted November 10, 2008 Why has Chuck Schumer robbed enough taxpayer money to buy the Bills? I think the senior senator from New York has enough pull to "caution" the NFL against allowing the Bills to leave New York State. Your comment about Schumer "robbing taxpayer money" is stupid and requires no further discussion. Link to comment Share on other sites More sharing options...
SKOOBY Posted November 10, 2008 Author Share Posted November 10, 2008 I think the senior senator from New York has enough pull to "caution" the NFL against allowing the Bills to leave New York State. Your comment about Schumer "robbing taxpayer money" is stupid and requires no further discussion. Agreed. Link to comment Share on other sites More sharing options...
TheKing Posted November 10, 2008 Share Posted November 10, 2008 I think the senior senator from New York has enough pull to "caution" the NFL against allowing the Bills to leave New York State. Your comment about Schumer "robbing taxpayer money" is stupid and requires no further discussion. 1. get a dictionary 2. look up the word naive 3. look in the mirror Link to comment Share on other sites More sharing options...
SKOOBY Posted November 15, 2008 Author Share Posted November 15, 2008 Pittsburgh's change of ownership looks like a casualty of future policy, hopefully we can get a new long-term local owner that wants to keep the Bills in Buffalo forever. Link to comment Share on other sites More sharing options...
Arkady Renko Posted November 15, 2008 Share Posted November 15, 2008 Capital gains rates won't affect the taxes Ralph's heirs pay. They will have a stepped up basis to the value at death. It is the estate tax rate that will matter, and Ralph probably won't try to control when he dies. There is no way for selling it before his death to be a better deal tax wise for his heirs. The team was bought for a small fraction of what it is today; the full value is almost all capital gain. Having a stepped up basis after his death cannot be beat. Link to comment Share on other sites More sharing options...
Captain Quint Posted November 16, 2008 Share Posted November 16, 2008 If Obama raises capital gains up from the current 15% to 35-45%, will that force RW to seek a new owner pre-death? Financially, the possibility of a 30% change on $800 is $240 Million swing against the Wilson family. That type of coin cannot be made up easily, so the question stands is Obama's office a godsend to the Bills that forces his hand early?? If he sells the team pre-death, the potential for Jimbo or other local wealthy people to buy it becomes that much more a reality. If there is a bidding war after death, odds are it gets pulled away from a bigger market / big money guy. Jimbo says he has the money waiting, it's probably from Hendricks racing owner. The local / state government could also get behind the push and offer credits or even waive taxes / fees from a new stadium site for building a dream stadium. A new stadium near the water / downtown Buffalo makes the most sense. Easier for northern fans and can literally transform the downtown into something of value. More Boxes, Huge amount of new commercial space that can hold many visitors for the Falls / Casino's is attractive. Think the Casino's would like to have a new NFL stadium around the block? I bet they would chip in for all the hotel space forever, it's future money in the bank. There is a big difference between 30 minutes and 5 minutes for distance to a Casino and having people stay in town to watch the game. The Northern money comes in every weekend, fills the new hotels / bars / restaurants / Casino and feeds the area their money and the locals get the use of it. The money to buy the boxes is not going to come from local companies and the interest in the Bills will grow north of the border. Pittsburgh's change of ownership looks like a casualty of future policy, hopefully we can get a new long-term local owner that wants to keep the Bills in Buffalo forever. Wow. Maybe Mark Cuban will buy the Bills and keep them here because it will be good for the NFL, too. Link to comment Share on other sites More sharing options...
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