KD in CA Posted October 6, 2010 Posted October 6, 2010 Why to the highest bidder? Can't they sell the team to whomever they want? Actually, the executor of the estate has a fiduciary responsibility to maximize the value unless the heirs all agree to something different. That said, regardless of the law it's unlikely Ralph's heirs are going to sell the team for less money to someone just because they promise not the move. Of course, the NFL has the final say on relocation.
Captain Caveman Posted October 6, 2010 Posted October 6, 2010 Actually, the franchise that was the Buffalo Braves are now the Boston Celtics. There was some kind of a wierd swap, with the Celtics owner, before the move. Just saying. I'm not aware of this swap, but the NBA site says different: http://www.nba.com/clippers/history/braves.html
Ray Posted October 6, 2010 Posted October 6, 2010 You're half right about the mediocre team (it's worse than mediocre) and you are incorrect about everything else, but it sounds plausible to the uninformed. Please enlighten me where I am uninformed? By all accounts the Bills will cost $800M roughly now. Toronto according to the NFL thru NBC would have to pay about $500-600M to relocate the franchise. THEN they would have to build a stadium. Toronto real estate is very close to Manhattan prices and in New Jersey a stadium was just built for over $1.2B so $1B is a safe estimate. So I would ask you to correct what is wrong here....also you can enlighten everyone how making less than 1% yearly on a close to $3B investment is a good investment.
DaBills51 Posted October 6, 2010 Posted October 6, 2010 (edited) The huge positives for the Bills are that we have a stadium already paid for so no debt service on the stadium and a great fan base that will come to the games even for a mediocre and less than mediocre team. Keep in mind if someone from Toronto wants to buy the team they have to shell out close to $3B (YES that is a capital B in Billion) just to buy the team, pay a fee to the NFL to move the franchise from Buffalo to Toronto about 600M, and then build a stadium for 1B. Even at a nice interest rate of 4% per year on just $2B that is $80M a year just on interest for a team that will make you about 10-20M in profit (for a 2.5-3B investment/bad ROI). The taxpayers of Toronto are NOT subsidizing an NFL stadium. One of the best things that happened for the Bills was Toronto not getting the Olympics otherwise they would have had an NFL ready stadium. Same with LA.....the broke state of CA is not shelling out $1B for a new stadium. Kelly likely does have a group ready to finance the purchase of the team and keep it here. The downside is no new stadium but I think we can all handle that with the Bills staying here Thank you for a being a voice of reason here.....I also don't understand why so many people discredit Jeremy Jacobs as a potential buyer. Currently, his net worth would place him 4th highest among NFL owners, surpassing even Jerry Jones. While Jacobs hasn't been the most popular man in Boston, he has a proven track record of maximizing revenue as an owner, and from a purely investment standpoint, it wouldn't be a bad move on his part. While Delaware North is already the current concession vendor of the Buffalo Bills, as the owner of the Bills he would get a much greater return through concessions, and I'm sure he would be able to increase suite sales as well. The man has made a killing off the Boston Bruins, from his ownership of the team to the selling of concessions and his stake in the New England Sports Network, he has a proven track record of success though his investments in sports. Not to mention, the past couples of years have shown that Jacobs is investing more and more into new ventures, and is not one to merely rest on his laurels. Edited October 6, 2010 by DaBills51
DarthICE Posted October 6, 2010 Posted October 6, 2010 The team gets better immediately. His wife sells the team to a bidder of her choosing. the new owner will have to sink some money into the Bills and market the crap outta them if he wants to keep them here or move them. He will have to show the NFL that WNY is not a viable solution to the long term success of the team. this isn't the 90's where there were a ton of places able and willing to take a team and the NFL was willing to let them move. It takes more than that these days.
Ray Posted October 6, 2010 Posted October 6, 2010 Thank you for a being a voice of reason here.....I also don't understand why so many people discredit Jeremy Jacobs as a potential buyer. Currently, his net worth would place him 4th highest among NFL owners, surpassing even Jerry Jones. While Jacobs hasn't been the most popular man in Boston, he has a proven track record of maximizing revenue as an owner, and from a purely investment standpoint, it wouldn't be a bad move on his part. While Delaware North is already the current concession vendor of the Buffalo Bills, as the owner of the Bills he would get a much greater return through concessions, and I'm sure he would be able to increase suite sales as well. The man has made a killing off the Boston Bruins, from his ownership of the team to the selling of concessions and his stake in the New England Sports Network, he has a proven track record of success though his investments in sports. Not to mention, the past couples of years have shown that Jacobs is investing more and more into new ventures, and is not one to merely rest on his laurels. I agree with you. He has caught a lot of criticism in Boston but he is a knowledgeable owner and knows how to make money in professional sports. I think he would be able to package some of his business already with the Bills. Also, the NFL would be easier in terms of the TV money already paying essentially all of the players' salaries. Much different than hockey. He certainly is a potential buyer.
K Gun Special Posted October 7, 2010 Posted October 7, 2010 Actually, the executor of the estate has a fiduciary responsibility to maximize the value unless the heirs all agree to something different. That said, regardless of the law it's unlikely Ralph's heirs are going to sell the team for less money to someone just because they promise not the move. Of course, the NFL has the final say on relocation. Of course the team would pass to his wife first not his heir or heirs and therefore is no need for the executor or in this case the adminstratrix to maximize the assets in a sale.
Keukasmallies Posted October 7, 2010 Posted October 7, 2010 When Ralph dies both the Bills and their owner will be dead....
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