BMWR100RT Posted November 5, 2012 Posted November 5, 2012 Is it wrong to get satisfaction realizing this bad owner won't ever see a championship? I'm ashamed of myself for thinking this, but days like yesterday its all I got.
RyanC883 Posted November 5, 2012 Posted November 5, 2012 I could be wrong but I believe I heard that he is going to keep the team until he dies for tax reasons for his daughters. If he sells it he would get taxed and his daughters would get taxed when he leaves all the money to them. Waiting for his death means they would only get taxed once on it. This is true. And one of the problems with the death tax.
JohnC Posted November 5, 2012 Posted November 5, 2012 Correct, sort of. If I have this right, and I think I am close, Selling it now would be a huge tax hit, as his basis in the team is $25000, resulting in something like a $300m tax hit on a $800m sale price. Then, when he dies and leaves the left over $500m to his heirs, the estate tax will take half of it again, leaving the heirs maybe $200- 300m off a $800m sale of the team. Really really stupid to sell it before he is deceased, What happens if he left the franchise to his wife thus avoiding the inheritance tax and then at a later time she sold the franchise? Would it be a legitimate transaction to pass on the team to his wife with his will instructing her to sell the asset and disburse the proceeds to include his daughters and their families? The bottom line is that the owner is going to do what he feels is best for his heirs without much consideration for the region.
thewildrabbit Posted November 5, 2012 Posted November 5, 2012 Correct, sort of. If I have this right, and I think I am close, Selling it now would be a huge tax hit, as his basis in the team is $25000, resulting in something like a $300m tax hit on a $800m sale price. Then, when he dies and leaves the left over $500m to his heirs, the estate tax will take half of it again, leaving the heirs maybe $200- 300m off a $800m sale of the team. Really really stupid to sell it before he is deceased, That may be, but considering how this fan base has supported an inferior team for so many years and allowed Wilson to live the high life with all his expensive hobbies you would think he would leave some sort of plan to at least keep the Bills in Buffalo. He doesn't have a plan afik or anyone else knows. How many millions could he possibly lose if he allowed open bidding but the new owner would be forced to keep the team in Buffalo? Al Davis couldn't make a profit with his team in LA, so unless some London billionaire goes crazy I'd think the sale won't really surpass what the team is worth by that much. 29th at 805 million, and mostly because the team is, and has been such a loser. Wilson is his own worst enemy.
peanuts Posted November 5, 2012 Posted November 5, 2012 Honestly guys, I think Ralph is too old to really care about the football operations. Instead of being an owner to whom the top employees are accountable, I think he pushes that role to the front office, thereby creating an atmosphere where people keep their jobs a bit too long if underperforming. The Bills pay the price, but can you really blame him? There is more to life than involving yourself in the day-to-day operations of a football team, especially when you're as old as he is. Instead of calling his performance into question, we should wonder why he is adamant about keeping the team until his death. He should have already sold it to an owner who is involved enough to foster accountability within the organization, and I think Ralph may be past that stage. Just to be clear, I could be 100% wrong about Ralph's current involvement, and my post is pure speculation. It's just the impression that I get. I totally agree.
Mr. WEO Posted November 5, 2012 Author Posted November 5, 2012 (edited) I realize that Ralph is going to auction off the team but from a tax standpoint what would happen if his wife inherited the team and then sold it. Would she have to keep the team for any specific time frame to avoid the inheritance tax? If she sold the team is the tax rate at a capital tax level or income level? I share your view of Ralph. How much is enough? In life and death he has a compulsion to squeeze the last nickel. There are many people who consider Ralph to be a benevolent owner and are simply satisfied that he kept his second rate team in the region. They are suckers! As surviving spouse, she would never have to pay an inheritance tax. If she sold, she would be taxed at the capital gains rate of 15%, I assume--just as if she inherited stock. Correct, sort of. If I have this right, and I think I am close, Selling it now would be a huge tax hit, as his basis in the team is $25000, resulting in something like a $300m tax hit on a $800m sale price. Then, when he dies and leaves the left over $500m to his heirs, the estate tax will take half of it again, leaving the heirs maybe $200- 300m off a $800m sale of the team. Really really stupid to sell it before he is deceased, See above. Anyway, he could sell a controlling share of the team now and still have hundreds of millions in the bank to lavish on his aging offspring. You forget the tens of millions he socks away every year in operating margin from this golden goose. If the only reason he won't release his rigor mortis grip on this team is to maximize the pile he leaves behind for a handful of peolple to enjoy, then he's worse than we imagine. I would be fine with anyone who makes as much money as they can doing what they love to do or are very good at. But neither applies to him and his ownership of this team. He makes money becuase of a loyal fan base and, more importantly, because of the NFL's anti-trust exemption and profit sharing structure. He doesn't earn a penny of that money he's hoarding. Edited November 5, 2012 by Mr. WEO
K-9 Posted November 5, 2012 Posted November 5, 2012 Like Ralph Wilson has never fumed and made changes before. GO BILLS!!!
first_and_ten Posted November 5, 2012 Posted November 5, 2012 It's not that Ralph has never made changes. Look at the last 12 years. The problem is when he makes them, they always seem to be the wrong ones. He hires the wrong people. When the team needs a quality football guy , he hires retreads and yesmen. He has opened the pocketbooks and paid free agents. What he just doesn't seem to understand, or doesn't want to, is that an NFL team needs quality people making good football decisions.
Marv's Neighbor Posted November 5, 2012 Posted November 5, 2012 I'm not sure what embarrasses me more. The fact that our owner and GM won't hold this team accountable or the fact that Bud Adams is the guy to show us what an owner is supposed to do. Bud Adams is a first rate a'hole! I was living in Houston when he screwed them over. When I look at the stands in a Texans game, I have to wonder if any of them are former Oilers fans..I'll bet not!
Best Player Available Posted November 5, 2012 Posted November 5, 2012 I was reading this earlier and thought WWRWD? I hope he just sells the team to the Kelly group... y h This whole organization needs to change The Kelly group. LOL. You mean Jim Kelly the guy who's bar went bankrupt in a drinking town? Please, Jimbo should/will stay involved with Hunter's foundation. At least he's doing some good. Him and his brother are not successful businessmen.
drinkTHEkoolaid Posted November 5, 2012 Posted November 5, 2012 Does our owner even know we had a game yesterday?? Honest question. Can anyone answer it ?
RealityCheck Posted November 5, 2012 Posted November 5, 2012 (edited) As surviving spouse, she would never have to pay an inheritance tax. If she sold, she would be taxed at the capital gains rate of 15%, I assume--just as if she inherited stock. See above. Anyway, he could sell a controlling share of the team now and still have hundreds of millions in the bank to lavish on his aging offspring. You forget the tens of millions he socks away every year in operating margin from this golden goose. If the only reason he won't release his rigor mortis grip on this team is to maximize the pile he leaves behind for a handful of peolple to enjoy, then he's worse than we imagine. I would be fine with anyone who makes as much money as they can doing what they love to do or are very good at. But neither applies to him and his ownership of this team. He makes money becuase of a loyal fan base and, more importantly, because of the NFL's anti-trust exemption and profit sharing structure. He doesn't earn a penny of that money he's hoarding. A penny saved is a penny earned. You and many others continue to bellyache, but Ralph is in the money making business first and foremost. If you can find a quote from him to the contrary please share. The man's actions over the past 50 years speaks for itself. The fact that you chose to vilify the man when you can't admit to yourself that you've duped yourself is based on ego. If you're gonna buy the ticket you take the ride. Edited November 5, 2012 by RealityCheck
benderbender Posted November 5, 2012 Posted November 5, 2012 The man's actions over the past 50 years speaks for itself. A true statement. The fact that you chose to vilify the man when you can't admit to yourself that you've duped yourself is based on ego. Calling a spade a spade isn't choosing to vilify. Just because it took some longer to realize the meddling and miserly ways of RW isn't/wasn't going to change without divine intervention doesn't make their conclusion less accurate. If there is one crime not worthy of the death penalty, it would be believing in the Buffalo Bills.
birdog1960 Posted November 5, 2012 Posted November 5, 2012 A penny saved is a penny earned. You and many others continue to bellyache, but Ralph is in the money making business first and foremost. If you can find a quote from him to the contrary please share. The man's actions over the past 50 years speaks for itself. The fact that you chose to vilify the man when you can't admit to yourself that you've duped yourself is based on ego. If you're gonna buy the ticket you take the ride. it's not unreasonable to hope the man obtained a conscience in his waning days or even to hope he'd want to go out a winner. hell, even scrooge did. but everything else you said about wilson is right on.
prissythecat Posted November 5, 2012 Posted November 5, 2012 The Kelly group. LOL. You mean Jim Kelly the guy who's bar went bankrupt in a drinking town? Please, Jimbo should/will stay involved with Hunter's foundation. At least he's doing some good. Him and his brother are not successful businessmen. I actually don't understand why folks seems to think that Jim Kelly will be able to buy a football team. Most of his business ventures have flopped. Does he have credibility left such that he would get backers willing to pony up funds to support what will likely be a $1 Billion purchase?
Mr. WEO Posted November 5, 2012 Author Posted November 5, 2012 The fact that you chose to vilify the man when you can't admit to yourself that you've duped yourself is based on ego. . Is there an English translation for this somewhere?
Doc Posted November 5, 2012 Posted November 5, 2012 If only the Bills had an owner like Bud Adams. Then we wouldn't have a team to B word about.
San Jose Bills Fan Posted November 6, 2012 Posted November 6, 2012 Honestly guys, I think Ralph is too old to really care about the football operations. Instead of being an owner to whom the top employees are accountable, I think he pushes that role to the front office, thereby creating an atmosphere where people keep their jobs a bit too long if underperforming. The Bills pay the price, but can you really blame him? There is more to life than involving yourself in the day-to-day operations of a football team, especially when you're as old as he is. Instead of calling his performance into question, we should wonder why he is adamant about keeping the team until his death. He should have already sold it to an owner who is involved enough to foster accountability within the organization, and I think Ralph may be past that stage. Just to be clear, I could be 100% wrong about Ralph's current involvement, and my post is pure speculation. It's just the impression that I get. This has been my opinion too. While I don't really know or care who's calling the shots at One Bills Drive, I'm relatively certain that it's been a long time since Ralph issued any sort of edict. I think everyone who works under Ralph pays lip service to him out of respect and to keep him in the loop. Buddy said that he talks to Ralph every morning so I'm sure Ralph has an idea of what's going on. That said, I believe that he leaves the decision making to others.
San Jose Bills Fan Posted November 6, 2012 Posted November 6, 2012 BTW, the three most interesting NFL stories today all made me reflect on the Bills: 1) Bud Adams' public dressing down of his entire organization in stark contrast to Ralph's silence. 2) KC Head Coach Romeo Crennel's firing of himself as the team's defensive coordinator in stark contrast to Gailey keeping a death grip on the offensive play calling. 3) Mike Shanahan's public declaration that his team was playing for next year in stark contrast to the masquerade surrounding the Bills that they still have a shot at the playoffs. Also it's very interesting to me that both Shanahan and Gailey took over their respective teams in 2010 and that their won-lost records are almost identical: Gailey is 13-27 while Shanny is 14-27. With very different methods of failure, the Bills and Redskins won-lost records have been eerily similar since Snyder bought the team in 1999.
Mr. WEO Posted November 6, 2012 Author Posted November 6, 2012 If only the Bills had an owner like Bud Adams. Then we wouldn't have a team to B word about. Too bad the folks in Houston are still without an NFL team... (Oh yeah--Ralph could have moved to Houston, right doc? )
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