Wilson Direct Quotes- And who controls sale of team?

[DynaPaul]

Re: Wilson Direct Quotes- And who controls sale of team?

I think Ralphie's ego as a shrewd businessman is stopping him from selling it to Golisano right now. Face it... by not selling the team before he dies he puts this franchise at a HUGE risk of being acquired by someone who wants to move the team. Obviously he's fine with that.

[feldspar]

Re: Wilson Direct Quotes- And who controls sale of team?

Whoever is the executor of the team (Wilson's lawyers - or whoever) has to approve of the sale too, no? That means that the team doesn't necessarily have to go to the highest bidder, right? Obviously, Wilson's heirs want as much money as they can get for the team, but is it possible that they would accept less money to be able to keep the team in Buffalo? I mean we are talking about hundreds of millions of dollars here. Would his heirs think about selling the team for 100 million less to keep the team in Buffalo? Would the league disapprove of such a tactic for some reason? In other words, the highest bidder probably won't be from Buffalo or have any interest in keeping the team here...but there is nothing forcing the executor to sell the team to the highest bidder. After all, this isn't an auction, is it?

One thing is for sure: if Wilson's family sells the team to someone planning to move the team to another city just to put outrageous amounts of money in their pocket, they'd better never show their face in my neighborhood. They wouldn't be welcome. At this point, Ralph doesn't seem to care because he'll be dead.

[patmoran2006]

Re: Wilson Direct Quotes- And who controls sale of team?

As i said a few days ago.. IM overcritical of the players, coaches and front offices at times, even when its undeserved.. I admit to this.

But when it comes to Wilson, I think I"m pretty spot-on when I say.
**** HIM.

[feldspar]

Re: Wilson Direct Quotes- And who controls sale of team?

But when it comes to Wilson, I think I"m pretty spot-on when I say.
**** HIM.

I used to think that saying something like that was taboo.

Not anymore.

[SABURZFAN]

Re: Wilson Direct Quotes- And who controls sale of team?

I think Ralphie's ego as a shrewd businessman is stopping him from selling it to Golisano right now. Face it... by not selling the team before he dies he puts this franchise at a HUGE risk of being acquired by someone who wants to move the team. Obviously he's fine with that.

which goes to show that the Old Senile Bastard don't give a rats ass about us fans.......



only our money.

[El Guapo]

Re: Wilson Direct Quotes- And who controls sale of team?

Why would he sell it, or any portion of it, now? Think about the financial implications behind such a move. Sell it now and pay taxes on long term capital gains (what, 20%?), only to then pay estate taxes on the remainder upon passing. Remember, his basis in the team is twenty-five thousand dollars ($25,000.00).

Let's keep it simple and say the team is worth one million dollars ($1,000,000.00). If a sale were executed tomorrow, he would pay two hundred thousand ($200,000.00) in capital gains taxes, so he would net eight hundred thousand dollars ($800,000.00). Then, let's say he dies the next day. If he passes the remainder to his wife, no tax consequences. But, if he passes it to his other heirs, then the estate tax kicks in at forty-five percent (45%). So, the net effect for the heir would be four hundred, forty thousand dollars ($440,000.00).

Now, let's play it out the other way. Wilson dies, and the team is valued at one million dollars ($1,000,000.00). His estate sell the team and passes it to his heirs. The estate tax would be due, but the tax effect to the heirs would only be four hundred, fifty thousand dollars ($450,000.00). The net cash after the taxes would be five hundred, fifty thousand dollars ($550,000.00), or a difference of eleven percent (11%).

Assuming the team can command six hundred, fifty million, this difference would be over seventy-one million dollars ($71,000,000.00). That's quite a few reasons to hold off on selling the team. Fans or no fans; city or no city; if I am advising him, I'm telling him to watch the cash.

If there is a tax attorney here who can clarify or refute this, please do. I haven't taken a tax class since law school, so my percentages may be off.

Don't get me wrong, I want them to stay in Buffalo as bad as everybody else. However, we are talking about buckets of cash on the line, and you can't get pissed at the guy for watching out for his own.

[SABURZFAN]

Re: Wilson Direct Quotes- And who controls sale of team?

Why would he sell it, or any portion of it, now? Think about the financial implications behind such a move. Sell it now and pay taxes on long term capital gains (what, 20%?), only to then pay estate taxes on the remainder upon passing. Remember, his basis in the team is twenty-five thousand dollars ($25,000.00).

Let's keep it simple and say the team is worth one million dollars ($1,000,000.00). If a sale were executed tomorrow, he would pay two hundred thousand ($200,000.00) in capital gains taxes, so he would net eight hundred thousand dollars ($800,000.00). Then, let's say he dies the next day. If he passes the remainder to his wife, no tax consequences. But, if he passes it to his other heirs, then the estate tax kicks in at forty-five percent (45%). So, the net effect for the heir would be four hundred, forty thousand dollars ($440,000.00).

Now, let's play it out the other way. Wilson dies, and the team is valued at one million dollars ($1,000,000.00). His estate sell the team and passes it to his heirs. The estate tax would be due, but the tax effect to the heirs would only be four hundred, fifty thousand dollars ($450,000.00). The net cash after the taxes would be five hundred, fifty thousand dollars ($550,000.00), or a difference of eleven percent (11%).

Assuming the team can command six hundred, fifty million, this difference would be over seventy-one million dollars ($71,000,000.00). That's quite a few reasons to hold off on selling the team. Fans or no fans; city or no city; if I am advising him, I'm telling him to watch the cash.

If there is a tax attorney here who can clarify or refute this, please do. I haven't taken a tax class since law school, so my percentages may be off.

Don't get me wrong, I want them to stay in Buffalo as bad as everybody else. However, we are talking about buckets of cash on the line, and you can't get pissed at the guy for watching out for his own.

yeah....when the Old Fart croaks,he doesn't lose ****.

[Michael82]

Re: Wilson Direct Quotes- And who controls sale of team?

I used to think that saying something like that was taboo.

Not anymore.

Me too.

[feldspar]

Re: Wilson Direct Quotes- And who controls sale of team?

Me too.

It's a shame, isn't it?

Ralph could leave an outstanding legacy, but if the Bills move after he's dead, there won't be too many people in Buffalo that even like him, let alone think highly of him. Ralph giveth and Ralph taketh away...

His family is going to be more than totally set forever if the team stays or goes, so what's stopping him from giving back to the community that did so much for him? He should at least put out some feelers out to see who is interested in keeping the Bills in Buffalo that can afford it. He knows how much the team means to lot of people.

[lordofgun]

Re: Wilson Direct Quotes- And who controls sale of team?

Respectfully and without being combative about it.

Why are you not worried about it? What do you see that makes you feel good about the prospects about the next owner of the Bills buying a team that will stay here.

I try not to worry about things I can't control. Until the Bills leave Buffalo, I'll be cheering for them.