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Ralph is going to sell the team before his death, maybe by year end


SKOOBY

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If he died today his wife would inherit the team and she gets a step up in basis. She turns around and sells the team and pays zero in cap gains. This is not an estate tax issue, it's a cap gains tax issue. If he dies in 2010 there is not estate tax but also no step up.

 

Besides there is no estate tax due when he dies...he's married.

 

If he leaves her the team this is true. He does not have to leave the team to his wife. It could go to the kids, wife, or someone else. My Toyota friends (from deep inside OBD) think he is leaving it to Scooby.

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I had this passed to me through a BMW / Mercedes driving friend that said Ralph had a change since his beloved daughter had passed before him. Ralph no longer wants to burden his family with this huge future obligation and has realized through indirect professional tax pro's he is dropping the ball not planning this out ahead of time. He will still seek concessions on behalf of the new owners and make those concessions an important part of the deal for the team to go on in Buffalo. He plans on securing his legacy of what he has accomplished and may even make an announcement around his HOF time in Canton (TBD), with part of the speech decicated to his daughter's memory.

 

I am not that creative to make this up and pretty much have given every detail I remember as it was explained to me.

 

GO BILLS!!

 

P.S. My BMW had a light come on today and is going to the shop tomorrow to get it fixed.

AW!!! BULLSH%&T

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We can all totally shoot down Skooby. I dont care about the post. But with everything happening to Ralph in the last 9 months it would be rediculous to think that he might not be changing his mind about this team and what he will do with it when/before he passes. He complains about how he wouldnt make enough money to stay here for years but always did. I think Ralph really wants to keep the team here and I for one can only hope that he has a bigger plan than what he has said in the past. :P

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The only thing I doubt is that he has made up his mind so soon. If such a decision was to be made I think it would take longer than a few weeks. Selling anything worth hundreds of millions of dollars is a big decision that takes time.If this came out during the later summer months I would be more likely to believe it. But i think that Ralph has to be at least taking it under consideration.

 

It may be the best thing for Ralph to sell the franchise with a qualifier that the team has to stay in Buffalo for at least another 10 years and than longer if they agree to renovate the stadium or something to that effect. Plus the inheritance tax burden might force the sale anyway and they might not have anyone who wants to keep the bills in buffalo.

 

If Kelly's friend buys the Bills they should be here for a veeeerrrrryyyyyy long time.

 

 

If he leaves her the team this is true. He does not have to leave the team to his wife. It could go to the kids, wife, or someone else. My Toyota friends (from deep inside OBD) think he is leaving it to Scooby.

 

My source (from inside the Mystery Machine) told me the same thing. :P

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Aw Christ, here we go. Keep your arms and legs inside the car at all times. Make sure the safety bar is secure and in the locked position. Enjoy the ride.

 

:P Gringo, this is some of your finest work.

 

Because it's coming from SKOOB I'll give this a 1% of being true. I'm not even going to post a question about this in the Tim Graham thread. Why waste his time.

 

I suppose it could be true because even a blind nut finds a squirrel now and again.

 

Steely isn't the kitty s'posed to handing out fists o' fury for postings like this?

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If he died today his wife would inherit the team and she gets a step up in basis. She turns around and sells the team and pays zero in cap gains. This is not an estate tax issue, it's a cap gains tax issue. If he dies in 2010 there is not estate tax but also no step up.

 

Besides there is no estate tax due when he dies...he's married.

He has always stated the team is going to his daughters. His wife won't inherit the team if he still owns it, Christy Wilson Hofmann will.

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He has always stated the team is going to his daughters. His wife won't inherit the team if he still owns it, Christy Wilson Hofmann will.

 

Ok so the daughter gets a step up in basis when he passes. Either way it would eliminate a huge cap gain tax paid if he sells prior to death. If he's smart he will not sell that team prior to death.

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Ok so the daughter gets a step up in basis when he passes. Either way it would eliminate a huge cap gain tax paid if he sells prior to death. If he's smart he will not sell that team prior to death.

 

Unless Congress decides to tax the capital gains at 90% as a "windfall" or "bonus" or something.

 

And honestly, I wouldn't put that by New York State, what with their budget problems.

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Unless Congress decides to tax the capital gains at 90% as a "windfall" or "bonus" or something.

 

And honestly, I wouldn't put that by New York State, what with their budget problems.

 

Well that's a whole other !@#$ing thread unfortunately...or maybe fortunately. Gets us out of this one.

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I had this passed to me through a BMW / Mercedes driving friend that said Ralph had a change since his beloved daughter had passed before him. Ralph no longer wants to burden his family with this huge future obligation and has realized through indirect professional tax pro's he is dropping the ball not planning this out ahead of time. He will still seek concessions on behalf of the new owners and make those concessions an important part of the deal for the team to go on in Buffalo. He plans on securing his legacy of what he has accomplished and may even make an announcement around his HOF time in Canton (TBD), with part of the speech decicated to his daughter's memory.

 

I am not that creative to make this up and pretty much have given every detail I remember as it was explained to me.

 

GO BILLS!!

 

P.S. My BMW had a light come on today and is going to the shop tomorrow to get it fixed.

 

Considering the source ... it's business as usual at the Ralph.

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