dubs Posted February 3, 2014 Posted February 3, 2014 I agree it needs some legitimacy. I think a politician could push the IRS to grant it a 501©(3) status, enabling tax-deductible donations to be made to the fund. In a way, the donations are a way to spare taxpayers money. If structured as a 501c3 I think it will bring in a ton. Agreed on the 501c3 status. Not only would it bring in a ton of money, but I think it could be so unique and innovative that it might be the model for sports franchises, going forward, or at least the smaller market ones. Most people don't have the appetite to watch their taxes increase only to see tax money being used to help fund an NFL franchise. Especially when we have failing schools, potholes and bad bridges, and the need for more law enforcement. This hybrid model reduces public funding and simultaneously engages the fan base more. They have more skin in the game. I really like this idea. I work in fundraising. So while I love this idea in theory, I'm concerned about the administrative costs involved. As much as we like to think there's a million or whatever Bills fans out there willing to support this (and I'd be one of them), you still need to get the word out. Direct mail, email, phone calls, whatever. That costs money. You need to provide paperwork and materials documenting individual gifts. More costs. You need someone to manage the fund itself and track the balance, likely provide quarterly/annual reports. If they get 501c3 status, then there's filing 1099s, all that stuff. More costs. It's not just a matter of stuffing $170M in a giant piggy bank. Absolutely agree. That's going to be a challenge.
Dean Cain Posted February 3, 2014 Posted February 3, 2014 The real question is will they except BitCoin? I have 1000 BtC in need of a home.
BUNCH OF MULARKEY Posted February 3, 2014 Posted February 3, 2014 Well at the very least everyone knows "money talks" and it would send the strongest message to the league that the fan base is dead serious about ensuring the team stays here. So say this "pool of money" is started and we have it sitting there. Ralphie lives for another five years so is it safe to assume the money is kept in an interest earning account. Who would be entitled to the interest if the team moved? Sort of a "good" problem to have. It would also be fun if we had a running total scoreboard on this website updating how much we have in the fund. Hopefully they can keep it open ended and folks can continuously contribute. A couple years and I bet it would get up there pretty good.
SRQ_BillsFan Posted February 3, 2014 Posted February 3, 2014 Would the NFL allow this? They could lobby the IRS behind the scenes not to allow this charity status. Not sure if all owners would be behind something like this, especially those with deep pockets. Not sure what the drawback would be? Anything that is perceived to take away the power to do whatever they want would not be popular with some owners. If is was indeed successful I could see other teams taking advantage of this and using it as well. If it was highly successful it could become the norm for NFL teams. 10 years from now all teams could be doing this and then we might be at a disadvantage again for the same reasons we are facing this situation today. Having said that a city that does not have a team could do this to help attract one. What if Buffalo were to raise $120 mil and the good people in Salt Lake or some other city were to raise $320 mil to help buy a team? I think I might be getting too far ahead of things as this obviously has a long long way to go. Somewhere someone came up with the original PSL idea and at the time I would have thought no way would fans be dumb enough to do that in stadiums partially funded with taxpayer money or subsidies.
stuckinny Posted February 3, 2014 Posted February 3, 2014 So it isn't like greenbay where you buy shares, this is a saftey net to pay interest on loans for someone to actually buy the team? If the team is moved and they refund my money do i get interest accrued for that time?
Dean Cain Posted February 3, 2014 Posted February 3, 2014 So it isn't like greenbay where you buy shares, this is a saftey net to pay interest on loans for someone to actually buy the team? If the team is moved and they refund my money do i get interest accrued for that time? I highly doubt any serious owner who would buy this team would leave a few years later. If you mean an a hostile takeover buyer like Bon Jovi who only wants the team to move them, then I think it's fair to assume the money would be in a pot & redistributed back to you.
BUNCH OF MULARKEY Posted February 3, 2014 Posted February 3, 2014 (edited) I highly doubt any serious owner who would buy this team would leave a few years later. Not so sure about that. This is the bills bad luck were talking about here. Edited February 3, 2014 by BUNCH OF MULARKEY
Dean Cain Posted February 3, 2014 Posted February 3, 2014 Not so sure about that. This is the bills bad luck were talking about here. 14 years without playoffs, is that more about bad luck or just bad ownership?
BUNCH OF MULARKEY Posted February 3, 2014 Posted February 3, 2014 14 years without playoffs, is that more about bad luck or just bad ownership? Think it's both to be honest.
McD Posted February 3, 2014 Posted February 3, 2014 How about this... a $.01 sales tax increase for Erie County is it feasible? Erie County has a population of approx 900K... I have no idea what is "spent there" everyday, but lets assume there was $10 spent every day by each resident. That equates to $9M to tax and the additional $.01 would equate to $90K a day and $32.85M annually. Since the Bills are a "Regional" team, you could expand that to the other WNY counties (pop 2.5M), that could total appox $91M annually!
dubs Posted February 3, 2014 Posted February 3, 2014 How about this... a $.01 sales tax increase for Erie County is it feasible? Erie County has a population of approx 900K... I have no idea what is "spent there" everyday, but lets assume there was $10 spent every day by each resident. That equates to $9M to tax and the additional $.01 would equate to $90K a day and $32.85M annually. Since the Bills are a "Regional" team, you could expand that to the other WNY counties (pop 2.5M), that could total appox $91M annually! The only issue with this is a principle one. Do you think the best use of taxpayer money is to help fund an NFL team? While I love the Bills and don't want them going anywhere, I struggle with this issue. I have a fundamental issue with raising taxes or using taxpayer money to help fund a successful, private venture that really doesn't contribute to the well-being of the area. There is just too much waste and too many needs to do that, IMHO. THat's what's intriguing about this idea floated by the Alliance
McD Posted February 3, 2014 Posted February 3, 2014 The only issue with this is a principle one. Do you think the best use of taxpayer money is to help fund an NFL team? While I love the Bills and don't want them going anywhere, I struggle with this issue. I have a fundamental issue with raising taxes or using taxpayer money to help fund a successful, private venture that really doesn't contribute to the well-being of the area. There is just too much waste and too many needs to do that, IMHO. That's what's intriguing about this idea floated by the Alliance Many good points, but let me ask you... how much money and national recognition does the Bills bring to WNY? Take out the fact the Wilson family makes bank... they're going to make bank anywhere this team is, I'd rather they make it here in Buffalo where the team belongs. The Fan Alliance can still be don in conjunction with this idea. a $.01 increase won't kill anyone esp since it will be spread out amongst all of the annual purchases. I mean, let's say you spend $1K at Christmas... are you really gonna complain about $10 on top of that?
C.Biscuit97 Posted February 3, 2014 Posted February 3, 2014 Not sure if it will really work or matter but I salute the efforts to be pro active and take matters into your own hands. Much better than a stupid billboard calling to fire someone.
MarkyMannn Posted February 3, 2014 Posted February 3, 2014 Is it possible that this thing could be considered a charity/non-profit, such that contributors' companies could "match" our donations? I know that personally, I've budgeted MORE to give my charities of choice in recent years BECAUSE my company matches those gifts. For example, where I might decide to give $200 to this Fan Alliance campaign, I might give $400 if I knew my company would match the gift for a total of $800. This is ridiculous. Now the Bills are a charity? Let's see, give $200 for the homeless, or $200 to the Bills. Tough decision........ This is a ridiculous idea on so many levels. A charity fund for an NFL team with the goal of raising at least 100 million dollars. The very idea of getting into the no-interest loan business with the NFL as the beneficiary is absurd. Then again, it's your money, not mine. Now THAT is a reality check. Agree! I am in. I would drop a grand to try and keep the Bills where they are and I don't live in Buffalo. I hope this comes through. Yeah make sure you post up a copy of that cashed check to the Bills
dubs Posted February 3, 2014 Posted February 3, 2014 Many good points, but let me ask you... how much money and national recognition does the Bills bring to WNY? Take out the fact the Wilson family makes bank... they're going to make bank anywhere this team is, I'd rather they make it here in Buffalo where the team belongs. The Fan Alliance can still be don in conjunction with this idea. a $.01 increase won't kill anyone esp since it will be spread out amongst all of the annual purchases. I mean, let's say you spend $1K at Christmas... are you really gonna complain about $10 on top of that? I don't know the answer to that question. I think there is some impact to the region, although my feeling is that it's more emotional than financial or tangible. Personally I wouldn't have an issue with your proposal, but I am not sure that it's "appropriate". That's why a potential solution like the one being proposed would be great if it ever came to fruition. People that care enough and want to help keep the team in town can contribute to that fund.
MarkyMannn Posted February 3, 2014 Posted February 3, 2014 How about this... a $.01 sales tax increase for Erie County is it feasible? Erie County has a population of approx 900K... I have no idea what is "spent there" everyday, but lets assume there was $10 spent every day by each resident. That equates to $9M to tax and the additional $.01 would equate to $90K a day and $32.85M annually. Since the Bills are a "Regional" team, you could expand that to the other WNY counties (pop 2.5M), that could total appox $91M annually! Guess which county is NYS has the highest sales tax rate? I kid you not, look it up. You are also assuming every person in Erie County is an avid Bills fan willing to "donate" this money. Most are not. But direct is the way to tax the fan himself through ticket or parking fees
sodbuster Posted February 3, 2014 Posted February 3, 2014 Anybody who says "just buy tickets" is missing the point. My ticket money doesn't come with a condition that if the team leaves I get my money back. But this does make me think about the idea that they expect a million people to be in on this. If people wont buy a game ticket, why would they do this? I realize that the game day experience is much more than the ticket price, but I feel like it's a valid concern. I still like the concept though, because I don't hear many other feasible ideas.
McD Posted February 3, 2014 Posted February 3, 2014 Guess which county is NYS has the highest sales tax rate? I kid you not, look it up. You are also assuming every person in Erie County is an avid Bills fan willing to "donate" this money. Most are not. But direct is the way to tax the fan himself through ticket or parking fees True, but what else does your tax money fund? I'm sure most people aren't "fans" of those things either. Like people that pay taxes that fund schools and they have no children.
dubs Posted February 3, 2014 Posted February 3, 2014 Guess which county is NYS has the highest sales tax rate? I kid you not, look it up. You are also assuming every person in Erie County is an avid Bills fan willing to "donate" this money. Most are not. But direct is the way to tax the fan himself through ticket or parking fees So you would or would not be in favor of this idea. It doesn't mean you would have to contribute to the fund, but does the idea appeal to you. From reading your posts its seems like you don't favor public funding, nor this idea (or at least wouldn't contribute).
offyourocker Posted February 3, 2014 Posted February 3, 2014 This is a ridiculous idea on so many levels. A charity fund for an NFL team with the goal of raising at least 100 million dollars. The very idea of getting into the no-interest loan business with the NFL as the beneficiary is absurd. Then again, it's your money, not mine. Great name for a post like this. Why would anybody give free money to help someone buy a business that will make them millions. The Bills are a profitable organization. Now, if you tell me I can buy shares of ownership and get shares of the profit then we are talking.
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