YoloinOhio Posted March 25, 2014 Posted March 25, 2014 It is hard to imagine any other owner of the Buffalo Bills. Wow.
bbb Posted March 25, 2014 Posted March 25, 2014 no need to make anyone feel guilty for asking, in my opinion. its natural. its not like this is a mob storming the wilson complex, its simply a message board where fans can discuss questions, and ideas. asking what happens from here is normal, and a far cry from someone demanding answers from the family which would be inappropriate in this moment No ****. People here take themselves and this board so friggin serious. It's not like we're at the wake asking this question. It's the most important question maybe in the history of Buffalo. How do you not ask it. There is already an RIP thread. If we knew the plan, nobody would be asking. We'd simply be mourning.
White Linen Posted March 25, 2014 Posted March 25, 2014 No ****. People here take themselves and this board so friggin serious. It's not like we're at the wake asking this question. It's the most important question maybe in the history of Buffalo. How do you not ask it. There is already an RIP thread. If we knew the plan, nobody would be asking. We'd simply be mourning. Very good points. My emotions were swaying reading posts about respecting the timing. Honestly what you just said makes a lot of sense, that we're not doing anything inappropriate by wondering on a message board about the proverbial elephant in the room.
kentonexile Posted March 25, 2014 Posted March 25, 2014 How many franchises have had one man at the top from Day 1? Every moment I've been a Bills fan it was one guy - agree or disagree with him, he was the face of the Bills. I never met him but he managed one of the few constants in my life, and presided over 4 seasons of excitement and thrills (and disappointment -- easing somewhat now 20+ past) that I will never forget. Another guy and we might be talking about this team like it was the Buffalo Braves or the Hartford Whalers. I'm sad but I hope his family has peace and rests knowing Buffalo thanks him.
Chef Jim Posted March 25, 2014 Posted March 25, 2014 Bingo. I'm no tax expert but I have to believe selling the team would have either earned/saved a tremendous amount of money for his family while he was alive, but he never did it. There's a plan, gotta be. No it's just the opposite. The heirs get a step up in basis and they could sell today without paying any cap gains tax. The estate tax issue is something else. Seeing Ralph's wife is still alive the estate would go to her and no estate taxes would be paid until she dies. The problem with that is she would have control of the assets including the team which I assume she, nor Ralph, wanted. So the question "So what happens now" is not a terrible one to ask. It's one, as I financial planner, I've been waiting to see answered for a long time now. I'm intrigued and very interested in how this plays out.
YoloinOhio Posted March 25, 2014 Posted March 25, 2014 Jason La Canfora @JasonLaCanfora 25m One possibility with the Bills as precursor to a sale - team goes into a trust for a period of time coinciding w/duration of stadium lease.. Pegula? Golisano? Bon Jovi? I forgot about that whole thing...
bbb Posted March 25, 2014 Posted March 25, 2014 a friend (who frequents this forum also) texted me and said Ralph's last gift will be a reasonable plan to keep the Bills in Buffalo. Let's hope its true Does your friend have any inside knowledge?
Chef Jim Posted March 25, 2014 Posted March 25, 2014 Does your friend have any inside knowledge? Yes, didn't you read the post. His friend frequents here. Can't get anymore inside than that!
Optometric Insight Posted March 25, 2014 Posted March 25, 2014 Stupid question, is it possible for Ralph Wilson to give the team to anybody in his will or for his family to give it to anyone? Or does the team have to be sold?
PromoTheRobot Posted March 25, 2014 Posted March 25, 2014 Stupid question, is it possible for Ralph Wilson to give the team to anybody in his will or for his family to give it to anyone? Or does the team have to be sold? He can leave the team to anyone. But that person would owe the inheritance tax of several hundred million dollars and his family would not get a nickel.
YoloinOhio Posted March 25, 2014 Posted March 25, 2014 Bingo. I'm no tax expert but I have to believe selling the team would have either earned/saved a tremendous amount of money for his family while he was alive, but he never did it. There's a plan, gotta be. I always thought this as well....
Chef Jim Posted March 25, 2014 Posted March 25, 2014 He can leave the team to anyone. But that person would owe the inheritance tax of several hundred million dollars and his family would not get a nickel. With zero liquidity to pay those taxes that are due in 9 months which would guarantee a fire sale of the team I always thought this as well.... See my post above regarding this.
bbb Posted March 25, 2014 Posted March 25, 2014 Yes, didn't you read the post. His friend frequents here. Can't get anymore inside than that! LOL!
Dr. Fong Posted March 25, 2014 Posted March 25, 2014 Bingo. I'm no tax expert but I have to believe selling the team would have either earned/saved a tremendous amount of money for his family while he was alive, but he never did it. There's a plan, gotta be. I've always been under the impression that the reason he didn't sell was that the capital gains tax would have been way higher than the estate tax. I guess we will find out more about the situation in the coming years.
thewildrabbit Posted March 25, 2014 Posted March 25, 2014 watch this http://sports.yahoo.com/video/judy-battista-ralph-wilson-jr-200737425.html
NoSaint Posted March 25, 2014 Posted March 25, 2014 I've always been under the impression that the reason he didn't sell was that the capital gains tax would have been way higher than the estate tax. I guess we will find out more about the situation in the coming years. we will learn a lot in the coming days/weeks.
Best Player Available Posted March 25, 2014 Posted March 25, 2014 No need to keep Littman anymore Chance he just got more power is a logical possibility too. Until the team is sold.
missthe kgun Posted March 25, 2014 Posted March 25, 2014 The Giants owner passed, and they won the Superbowl The Ravens owner passed, they won the Superbowl The Bills owner just passed, we will win the Superbowl
Heels20X6 Posted March 25, 2014 Posted March 25, 2014 I think we should all tweet Mark Cuban and convince him to buy the team. He's just as crazy and passionate as Ralph is. A fitting replacement.
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