I hate the Bills ! Posted October 6, 2010 Posted October 6, 2010 This topic maybe a bit morbid, But what happens when the owner of a NFL team dies ? How long before someone else takes over or the team gets sold. It has been reported that Ralph's family doesn't want to keep the team so new Bills Ownership in in the cards. There has wide talk of Jim Kelly having a group to buy the team, there has been talk of them moving the team to Toronto or L.A. Moving the team to L.A. creates scheduling issues, Would they still be in the AFC East ? I kinda doubt it ! Toronto would make more sense logistically. Lots of questions to be answered.
aristocrat Posted October 6, 2010 Posted October 6, 2010 well if he dies this year there is no estate tax so there would only be tax of roughly 20% of the value of the team. the team has no debts as far as i know since ralph has owned the team for so long and they play in a 40 year old stadium. depends on what congress does with the estate tax at the end of the year will determine what happens with the team. if the estate tax is lowered maybe ralph's family has enough cash to pay it and keep the team and hold it for a couple years until the economy comes back around and more bidders can drive up the price. but to answer your question simply...the family simply puts the team up for sale and someone puts up 500-700 million and becomes owner and they decide what to do with the team.
Kipers Hair Posted October 6, 2010 Posted October 6, 2010 This topic maybe a bit morbid, But what happens when the owner of a NFL team dies ? How long before someone else takes over or the team gets sold. It has been reported that Ralph's family doesn't want to keep the team so new Bills Ownership in in the cards. There has wide talk of Jim Kelly having a group to buy the team, there has been talk of them moving the team to Toronto or L.A. Moving the team to L.A. creates scheduling issues, Would they still be in the AFC East ? I kinda doubt it ! Toronto would make more sense logistically. Lots of questions to be answered. His estate sells the team to the highest bidder and the new owner gets to answer where he wants the team...pending NFL approval, (from what I understand, a foregone conclusion mind you), and off they go. City of Industry has a nice new vacant home being built I here...I am sure the NFL is already working on the logistics of this issue... All the while, the fine blue collared citizens of WNY reach for the KY...err, I mean wallets to support a pipedream of keeping the franchise local...And so it is writen...
NaPolian8693 Posted October 6, 2010 Posted October 6, 2010 Here's what happens when he dies: Everyone struggles with a weird ethical dilemma, because one one hand it's obviously great for the franchise but on the other hand it's creepy to feel happy that a decent human being has passed away.
Ghost of Rob Johnson Posted October 6, 2010 Posted October 6, 2010 His estate sells the team to the highest bidder and the new owner gets to answer where he wants the team...pending NFL approval, (from what I understand, a foregone conclusion mind you), and off they go. City of Industry has a nice new vacant home being built I here...I am sure the NFL is already working on the logistics of this issue... All the while, the fine blue collared citizens of WNY reach for the KY...err, I mean wallets to support a pipedream of keeping the franchise local...And so it is writen... Why to the highest bidder? Can't they sell the team to whomever they want?
NaPolian8693 Posted October 6, 2010 Posted October 6, 2010 The sad truth is that Ralph does not care one tiny bit what happens to the franchise after his death. He knows that he is near the end of his life. If he cared about the franchise staying in Buffalo, he would have sold it already or started a plan in motion. Everyone knows that his living children hate Buffalo and hate football, so they will just sell the team to whomever is the highest bidder. They will be happy when it moves away.
Chandler#81 Posted October 6, 2010 Posted October 6, 2010 What happens when he dies? Well, there'll be a funeral, replete with the colors of Royal Blue, Scarlet Red, White, um.. gray, silver, um.. Light Blue ( ) ..nevermind.
BuffaloBaumer Posted October 6, 2010 Posted October 6, 2010 The waiting list for the Sabres season tickets gets A LOT longer..................
birdog1960 Posted October 6, 2010 Posted October 6, 2010 he meets his maker...and all his money means nothing
Captain Caveman Posted October 6, 2010 Posted October 6, 2010 Well, some people think that if you're good you go to heaven, and if you're bad you go someplace worse than heaven. Other people believe that you are reincarnated, and if you led a good life you'll be reincarnated as a higher being, if you led a bad life you'll be reincarnated probably as a worm or a chinchilla or something. And other people think you just cease to exist.
NaPolian8693 Posted October 6, 2010 Posted October 6, 2010 (edited) I hope for his sake that St. Pete is not a Bills fan! Edited October 6, 2010 by NaPolian8693
Pine Barrens Mafia Posted October 6, 2010 Posted October 6, 2010 Who cares? Hopefully they move to LA.
akm0404 Posted October 6, 2010 Posted October 6, 2010 Everyone always says stuff like estate sells team to highest bidder who is free to move the team wherever. I'm not certain if this is true or not. It sounds reasonable, but I wonder if anyone has a respected source that they could cite that discusses what the process will be.
K Gun Special Posted October 6, 2010 Posted October 6, 2010 wow so many people saying what they know will happen when they are only guessing. See, i know the people who worked with Ralph in setting this all up. The team was made into a corp type structure a longggggggggg time ago, so the team isnt owned as one would own a car. Makes it a little more complex upon his death but the bottom line is it protects his family. BTW, Ralph is very cognizant of his name, and doesnt want to be remembered as the AFL/NFL owner who was too sloppy to have a plan in place. Ralph is a shrewd busniessman.
aristocrat Posted October 6, 2010 Posted October 6, 2010 Everyone always says stuff like estate sells team to highest bidder who is free to move the team wherever. I'm not certain if this is true or not. It sounds reasonable, but I wonder if anyone has a respected source that they could cite that discusses what the process will be. there is a one billion dollar movement fee that can be adjusted by the nfl, plus cost of team and stadium
akm0404 Posted October 6, 2010 Posted October 6, 2010 wow so many people saying what they know will happen when they are only guessing. See, i know the people who worked with Ralph in setting this all up. The team was made into a corp type structure a longggggggggg time ago, so the team isnt owned as one would own a car. Makes it a little more complex upon his death but the bottom line is it protects his family. BTW, Ralph is very cognizant of his name, and doesnt want to be remembered as the AFL/NFL owner who was too sloppy to have a plan in place. Ralph is a shrewd busniessman. With all due respect, you're just some guy in the Internet talking some stuff. Can you offer up anything except some random speculation that indicates that any sort of plan is in place?
birdog1960 Posted October 6, 2010 Posted October 6, 2010 wow so many people saying what they know will happen when they are only guessing. See, i know the people who worked with Ralph in setting this all up. The team was made into a corp type structure a longggggggggg time ago, so the team isnt owned as one would own a car. Makes it a little more complex upon his death but the bottom line is it protects his family. BTW, Ralph is very cognizant of his name, and doesnt want to be remembered as the AFL/NFL owner who was too sloppy to have a plan in place. Ralph is a shrewd busniessman. yup...shrewd enough to know that winning isn't necessary for the teams financial success in buffalo and shrewd enough to not let 50 years in a location influence a sale.
K Gun Special Posted October 6, 2010 Posted October 6, 2010 With all due respect, you're just some guy in the Internet talking some stuff. Can you offer up anything except some random speculation that indicates that any sort of plan is in place? Hey thats a fair point. But its not speculation on my part, and this is all i was told, but it was by people in the know, who were part of crafting the legal documents. Im not claiming to know the whole thing etc. But have you noticed there isnt a lot of panic by the powers that be about our 90- yr old team owner? Bottom line: the team isnt passing to the children (which it would go to his wife first if intestate) like you would pass on your car or something else. Theres a plan in place but its not being made public for obvious reasons. NFL owners are rich, and Ralph is self made. He isnt dumb enough to leave no plan in place. This isnt guessing or conjecture on my part.
Recommended Posts