The last thing I want is the Bills in Toronto.
I want them to stay right where they are.
The last thing I want is the Bills in Toronto.
I want them to stay right where they are.
jimmifli (04-03-2014)
@ByTimGraham
Source: Bills won't ease into sale process, could have new owner as early as October
The team has already been placed in a trust. If Mary wilson was the sole person to the decision of selling the team, why would a board of trustees be bringing in groups wanting to buy the team? I think "controlling owner" is just a title. The team is still controlled by the trustee board.
Post #37 is correct.
http://boards.buffalobills.com/showt...80#post7444680
Lease? You call that a lease? LMAO. More like a year to year RENTAL.
The Chargers can move any time they like following the season they play without owing anything.
And Ralph could have done the same thing if he chose to do so when the old lease was up.
Play year to year & wait for the next owner to buy the team & move them where he wanted.
But Ralph did not do that. He signed a lease that will keep the Bills in Buffalo until at least 2020, giving the Buffalo area time to get its ducks in a row to keep the team in WNY.
I am WRONG. No more trustees or trustee board. Mary Wilson has the sole responsibility of who to pick to sell the team to. This is only good news in my eyes. Her husband of thirty years spent his life keeping this team from moving. Fighting other owners to try and keep the team competitive. I doubt she ruins her husbands legacy by selling to the highest bidder who would be more likely to move the team. I think some of the family would probably like to keep the team, they just can't. There is still an inheritance tax and I don't think anyone in the family has the extra 300 million to cover that tax. The family has to sell the team to be able to pay the government the inheritance tax.
http://www.wgr550.com/Mary-Wilson-na...Bills/18735192
http://www.tax.ny.gov/pit/estate/etidx.htm
better days (04-04-2014)
Yes, I call that a lease because it's the textbook definition of a lease. A lease does not require a long-term commitment or some sort of penalty.
That year-to-year renewable language has to be in the previous lease to be valid, and it might not have been. And let's not forget, Ralph didn't sign a 10 year deal out of the goodness of his heart, he got a $130 million stadium renovation project paid from taxpayer money in exchange.And Ralph could have done the same thing if he chose to do so when the old lease was up.
Play year to year & wait for the next owner to buy the team & move them where he wanted.
But Ralph did not do that. He signed a lease that will keep the Bills in Buffalo until at least 2020, giving the Buffalo area time to get its ducks in a row to keep the team in WNY.
Billszone 2013 Prediction Contest winner!
Bill Cody (04-04-2014)
Yes Ralph did sign the 10 year lease out of the GOODNESS of his heart.
The Bills would be worth more to a potential buyer that wanted to move the team if there was NO lease!
Ralph committed the Bills to Buffalo for ten more years out of the GOODNESS IN HIS HEART.
He did not make money by doing that, he most likely lost money.
BertSquirtgum (04-04-2014)
It was not Ralph's responsibility to sell the Bills before his death.
Ralph LOVED the Bills & wanted to own them & keep them in Buffalo as long as he lived.
He made provisions to keep the Bills in Buffalo an additional 10 years as well.
Why do you people not understand Ralph could have died with the Bills having no lease to keep them in Buffalo until 2020?
coastal (05-30-2014)
or his initial investment was 25,000 and the final value was 880 million. So the capital gain tax he would have to pay from selling the team would be monstrous. How do we know the team doesn't already have a buyer lined up and all of this stuff going on now is just formalities. Exactly, we don't. Sooooo, just wait and stop making assumptions.
I'll just roll though my reasoning and time will sort it out and make me look stupid or wise. Yeah, I'm used to looking stupid, and occasionally come up with something wise which doesn't make me any money.
Maybe someone with some more law can jump in.
If Ralph gives to Mary, even temporary, there is no estate tax. Spouse rule. If Mary dies while owning they get double nailed, capital gains and estate. If Mary sells, capital gains only. This is what no one has ever been sure of that I've talked to. Does Mary get nailed with estate while holding spouse rule card and still alive ? I am not sure she does.
Mary owning, can sell to who she wishes, with NFL approval, irrelevant to court, and the few odd millions.
If Ralph designates to estate, executor takes control, primary executor is assumed and noted to be his chief accountant Littman. Dollars and cents bottom line guy. Required by the court to take highest offer. Doesn't matter to who, the NFL unless wishing to fight in court has to agree, and won't be much bothered to.
The Ralph organization signed off on that lease, including Littman. Littman being chief accountant knew that will and related laws.
The estate is nowhere near settled. Mary was given control not Littman, Littman knew this too. Estate in question, there cannot yet be bids that could be acted on that quickly, unless, via Mary, there was a plan. For bids to be acted on as quickly as Graham asserts, the NFL has to know, even if informally, because the estate is not even clear yet.
A fast sale means a local ownership group and a plan. Mary and not Littman, overseeing it is a good thing.
She can sell to anyone ! Ralph could have too. Littman would have had to via court. Ralph was not an idiot despite some thoughts, he saw all this coming for years. He'd not have had that lease signed, would have had title go to estate and Littman if it was about money. Didn't.
They have a plan. Mary is a really good thing.
BertSquirtgum (04-04-2014)