PSLs… Who is buying?

[YardRat]

NFL has a special tax treatment.

Look it up.

I did.

The amortization of the purchase price is a deduction against the income of the franchise within its own structure. It can't be written off from other entities, like any fracking companies he may still own, as you stated.

[notacon]

So as I was saying…there we are sitting around the bar… ouch, nitty fell off his stool!

Interesting that you should use a bar as an analogy.

I do not drink and don't go to bars to drink. Last time I went into a bar for a drink was a few decades ago. Last time I got drunk at a bar was when I was 18 years old (back when the drinking age was 18) at our "Senior Drunk" celebration a couple of weeks before HS graduation. It was at a bar on Forest St, near Elmwood on $1 picture night.

But, I have been in bars with buddies (male and female) when we kibitz about sports and the Bills. My relatively short posts (sorry, but a 500 word post is NOT an "essay") are almost exactly what dedicated and passionate Bills fans argue about.

The ones that would whine and tell us to keep our voices down were usually the control freaks that did not know anything about football.

[TheConsigliere]

I did.

The amortization of the purchase price is a deduction against the income of the franchise within its own structure. It can't be written off from other entities, like any fracking companies he may still own, as you stated.

That is the general rule that a depreciation deduction/cost/reduction can only be taken against similar business income however I thought the NFL lobbied and received an exception long ago.

I will look for it tomorrow.

I thought I had posted that article here before many years ago.

[ckg927]

FTR: Jim Heaney of Investigative Post ripped into CE Mark Poloncarz's crocodile tears re the PSL matter in his WeeklyPost column(which is posted to their website on Monday mornings....I'll link to it in this thread). Spoiler alert: He has NO kind words for Poloncarz, Gov. Hochul, Terry Pegula, or Legends(which is handling the PSL matter...or rather, NOT handling it).

As a teaser, here's LAST week's Monday Morning Read, which started this latest round: http://www.investigativepost.org/2024/03/25/monday-morning-read-89/

[ckg927]

Pegs is effectively putting up little to nothing of his own money to build the new Highmark Stadium. We're paying for the whole damned thing.

THAT's the bottom line.

[sukie]

Because “we” collectively own it. Some more than others with the PSL. The Bills are tenants

[gr8slayer]

Pegs is effectively putting up little to nothing of his own money to build the new Highmark Stadium. We're paying for the whole damned thing.

THAT's the bottom line.

Welcome to the business of modern sports. If a community wants the team, they'll have to pay for it. KC is about to go through some ugly negotiations with the community over their new stadium.

[TheConsigliere]

Pegs is effectively putting up little to nothing of his own money to build the new Highmark Stadium. We're paying for the whole damned thing.

THAT's the bottom line.

I have been saying that for years.

[ckg927]

And, as promised, that column from Jim Heaney... http://www.investigativepost.org/202...rning-read-90/

[notacon]

Pegs is effectively putting up little to nothing of his own money to build the new Highmark Stadium. We're paying for the whole damned thing.

THAT's the bottom line.

100% accurate.

There is not ONE PENNY coming out of his pocket. NOT ONE!!!!

Any money coming from the "Buffalo Bills" will be from their operating funds (around almost GUARANTEED $500+ MILLION per year (and GUARANTEED to increase every year) and over $100 PROFIT every year), while the value of the team has already skyrocketed 164% or $2.3 BILLION since he bought it a short 10 years ago and almost GUARANTEED to go up year after year after year. As I already stated (but it really needs to be repeated over and over again)...

Mr Pegula "recovered his initial investment" some time ago, as both increase in value (if he sold the team) and operating profit piles up and shows no end in sight (especially considering it's GUARANTEED income stream (that is ever increasing via TV contacts) and GUARANTEED LIMITED labor cost (due to CBA that limits payroll to per-determined percentage of sales....I know of no other business with this model)

As a small business owner in the past I would have LOVED to have this type of cushy, RISK FREE business model.

In FACT, the value of the Bills is expected to rise ANOTHER $2.3 BILLION in just four years, in 2028 to a whopping $6 BILLION!!!

[TheConsigliere]

100% accurate.

There is not ONE PENNY coming out of his pocket. NOT ONE!!!!

Any money coming from the "Buffalo Bills" will be from their operating funds (around almost GUARANTEED $500+ MILLION per year (and GUARANTEED to increase every year) and over $100 PROFIT every year), while the value of the team has already skyrocketed 164% or $2.3 BILLION since he bought it a short 10 years ago and almost GUARANTEED to go up year after year after year. As I already stated (but it really needs to be repeated over and over again)...

Mr Pegula "recovered his initial investment" some time ago, as both increase in value (if he sold the team) and operating profit piles up and shows no end in sight (especially considering it's GUARANTEED income stream (that is ever increasing via TV contacts) and GUARANTEED LIMITED labor cost (due to CBA that limits payroll to per-determined percentage of sales....I know of no other business with this model)

As a small business owner in the past I would have LOVED to have this type of cushy, RISK FREE business model.

In FACT, the value of the Bills is expected to rise ANOTHER $2.3 BILLION in just four years, in 2028 to a whopping $6 BILLION!!!

Again something I have been saying for years.

[notacon]

Again something I have been saying for years.

Me. too.

But I don't begrudge NFL owners their riches, just like I do not begrudge NFL players their riches. Players, in particular, deserve every penny they can wring out of the system while they have the chance.

There are a relative handful of men in the whole world that can even play in the NFL much less excel at a high level.

As I said (about the Mr. Pegula) BUT, basically CRAPPING on the loyal fans who have put up with mostly a **** product for the majority of the teams 64 year existence, who support this team no matter WHAT....and disrespecting them squeezing ANOTHER $200 MILLION out of them (because he can) when he is reaping MASSIVE RICHES (on top of the already obscene wealth) seems a bit repulsively repugnant and selfish to the nth degree.

Pegula could easily bestow a gift to the fans by saying HE will pay, out of his own deep, deep pocket the PSL for most of the fans (maybe he could base it on income...extremely high income people still have top pay, because they can).

Even the whole $200 is relative pocket change for a billionaire like Pegula. The reality is undeniable.

Here is a comparison to what percentage of Pegula's net worth it would take to cover that $200M (2.94%) and the median American household by age group (median is 50% have higher and 50% lower)...

Age of family head (or reference person)	Median net worth	Amount equal to Pegula's $200M
Less than 35	$39,000	$1,147
35-44	$135,600	$3,988
45-54	$247,200	$7,271
55-64	$364,500	$10,721
65-74	$409,000	$12,029
75+	$335,600	$9,871

Now, this is a rhetorical exercise. We all KNOW why these filthy rich owners will wring every last dime out of their customers.....BECAUSE THEY CAN!!!!

[Historian]

I belong to the FB group.

Believe me, there are a lot of 40, 50, and 60 year season ticket holders that simply cannot afford to renew.

They worked their way into the best seats in the house, by upgrading every few years, until they were in the lower bowl, in between the 35's.

Now a good portion of those seats are designated as "Club", despite the fact that they are outside in the elements.

Add on a 20K PSL (per seat) and they are now unaffordable.

I think the actual tickets are 4300 per seat, but don't quote me on that.

And if one plans to downgrade to the upper deck, where it may be more affordable, they have to wait for another shot at tickets, until after the upper deck people have been given their options.

So yea, long time fans are really getting screwed.

[gr8slayer]

I belong to the FB group.

Believe me, there are a lot of 40, 50, and 60 year season ticket holders that simply cannot afford to renew.

They worked their way into the best seats in the house, by upgrading every few years, until they were in the lower bowl, in between the 35's.

Now a good portion of those seats are designated as "Club", despite the fact that they are outside in the elements.

Add on a 20K PSL (per seat) and they are now unaffordable.

I think the actual tickets are 4300 per seat, but don't quote me on that.

And if one plans to downgrade to the upper deck, where it may be more affordable, they have to wait for another shot at tickets, until after the upper deck people have been given their options.

So yea, long time fans are really getting screwed.

The (unfortunate) alternative is that the area doesn't cave and they move the team to a city like San Antonio that will (willingly) pony up the money.

I don't like this new business model, but it's just a reality. They have truly priced out the "normal" people.

[Typ0]

They just kicked 50+ year season ticket holders out of the stadium. Didn't even offer an apology or write a canned letter or anything. Let them find out on the news.

Welcome to Thurman Thomas' world.

That's right when they dicked me around on a season ticket issue and I told them to shove it.

The Bills and the NFL never saw season ticket holders as their loyalist fans like many season ticket holders of the Buffalo Bills see themselves. Instead, the Bills and the NFL have always seen season ticket holders as the ones with enough disposable income they don't give a **** when they are treated like ignorant dupes.

With a new stadium coming and all these market issues to be sorted out I can see them clinging onto this above average mediocrity as well.

Talk about doom and gloom. I didn't make this **** up. Neither did Op.

But at least there is a team in New York State ... that is what you win. A team in New York State.

Congratulations.

Make sure to pay your cable bill and subscribe to Amazon prime and netflix so you can watch.

[TheConsigliere]

Can we just all pucker up and kiss both of Terry's ass cheeks for keeping Major League professional sports like hockey and football in Minor League Buffalo?

Be grateful

[notacon]

I belong to the FB group.

Believe me, there are a lot of 40, 50, and 60 year season ticket holders that simply cannot afford to renew.

They worked their way into the best seats in the house, by upgrading every few years, until they were in the lower bowl, in between the 35's.

Now a good portion of those seats are designated as "Club", despite the fact that they are outside in the elements.

Add on a 20K PSL (per seat) and they are now unaffordable.

I think the actual tickets are 4300 per seat, but don't quote me on that.

And if one plans to downgrade to the upper deck, where it may be more affordable, they have to wait for another shot at tickets, until after the upper deck people have been given their options.

So yea, long time fans are really getting screwed.

Gee....rich as **** billionaire not giving one **** about average folks, and purposely crapping all over them so they can add a relative few dollars to their vast wealth.


What else is new?!?!?


It's as predicable a a bear ****ting in the woods.

[notacon]

The (unfortunate) alternative is that the area doesn't cave and they move the team to a city like San Antonio that will (willingly) pony up the money.

I don't like this new business model, but it's just a reality. They have truly priced out the "normal" people.

Oh please. For $200M (the equivalent of about $10K to average folks)?!?!?!


It's not about "priced out the "normal" people" it's about pure, unadulterated, shameless GREED.

[notacon]

Can we just all pucker up and kiss both of Terry's ass cheeks for keeping Major League professional sports like hockey and football in Minor League Buffalo?

Be grateful

Well...to be fair, the Sabres ARE like a minor league team.

[HAMMER]

It's going to be interesting to see where this goes. Sad that so many loyal fans will be priced out. I know I would never dish out 15-50k just for the right to sit in the same seat every week. Will supply and demand cause a reduction in PSL pricing when they see how many people opt out? I'm guessing there will be a large increase in available seats.