clearwater cadet Posted August 3, 2014 Posted August 3, 2014 (edited) To answer your question in one word: taxes I've always read she can own the team and not be taxed, the problem would be if the team was left to his daughter? If the spouse is a US citizen, no tax is passed along. Edited August 3, 2014 by clearwater cadet
Tyrod's Tailor Posted August 3, 2014 Posted August 3, 2014 (edited) I've always read she can own the team and not be taxed, the problem would be if the team was left to his daughter? That's right. now I see i misunderstood you orignially. Edited August 3, 2014 by billsfaninmanhattan
Hplarrm Posted August 3, 2014 Posted August 3, 2014 It was great to hear Andre Reed call for the team to remain in Buffalo in his induction speech! It was even better to hear the Canton Bills partisan heavy crowd give an extended standing ovation (which Reed allowed to continue). Those who misread NFL economics to judge that Toronto easily beats out Buffalo misread that the other NFL team owners actually profit more from keeping the team in Buffalo than they do from their 1/32 of the significant but in the end marginally higher team profits from selling the team to move to Toronto. The team stays here because the money behind the NfL makes more $ from the team staying in Buffalo.
clearwater cadet Posted August 3, 2014 Posted August 3, 2014 Initially I thought the soft deadline was about greed, but maybe not. if you think about it, the trust really has to identify 2 or 3 groups that they feel will fill there obligation or requirement. If Mr. Pegula was the only one, that would leave the trust at a serious disadvantage if something goes wrong. Image they get through this process with only him initially, and learn we under some type of federal investigation or pending huge law suit, or something. They would have likely have to go back to find a new bidder, who would likely all throw several low ball offer at them, or have would have to accepted an offer from someone with out of town interest. The way the NFL runs its business, i don't think the owner of the Browns would have been approved if the league knew then what they know now. After Mr, Wilson passed, I had read that normally when someone is interested in buying an NFL team, they would contact the league office, and the league office would put them through like a pre-approval program. If they were pre-approved by the league they would have to wait, and the league would eventually contact then when a team became available. If they were interested they would put the two together and the process would go from there. That was the reason no one knew the Browns were for sale until the deal was done. With the way the Bills sale was moving initially, and the way everyone was talking, I thought the same was true, I had thought that Jim Kelly,s group, head by Howard Milestein was all set and they were gonna build a new stadium in Niagara Falls, backed by Gov. we will win multiple superbowls and the rest was history. But that didn't happen. Maybe setting up the trust, and allowing then to move the piece around, and lining them up gives them the best chance to keep the team here, and take the decision making away for the Jerry Jones of the league.
Beerball Posted August 3, 2014 Posted August 3, 2014 Thanks! I read in a few articles about Pegula & Trump being selected, but nothing about the Toronto group. I find the Golisano angle to be interesting. He had dinner with Russ Brandon earlier in the year (after Ralph passed), so I'm wondering if he's the one the Bills trust really wants? I think Pegula can offer much more than Golisano as Pegula has more than double the money of Golisano. AP (Wawrow) ran the story that Pegula and Trump would move forward. Same article said that he couldn't get confirmation one way or the other on Toronto. His sources confirmed 2. He couldn't get confirmation one way or another on the third (and neither has anyone else so far). [Like many I read several articles about this, but, I believe that the way I've characterized jw's article is correct] Not to speak for anyone else, but he can put whatever he wants in his will. And he's got brilliant people earning top dollar to get things worded so he gets as close to what he wanted as possible. It's very complicated estate planning that only the brightest of us on this board could understand if we were to dedicate a decade or so of education to try to grasp. It's not a one page hand written on a cocktail napkin kind of deal. Some people cut the kids out entirely. Go figure, not my style (you're welcome kids, dozens of dollars should be left over for you). Some give zero to charity. People are all different and do things for their own reasons. He earned that right. The important stuff isn't in his will which is public. The good stuff is in the trust which is private. We'll never know what it said (unless one of the members releases it). Do a google search on Ralph's will, there was an article about it earlier this week.
YoloinOhio Posted August 3, 2014 Posted August 3, 2014 (edited) So this apparently happened: Bon Jovi's letter to Buffalo on why they bid: @john_kucko: Interesting! RT “@ByTimGraham: Buffalo News exclusive: Jon Bon Jovi breaks silence, vows to keep Bills in WNY http://t.co/bBffWpk7cL” Edited August 3, 2014 by YoloinOhio
The Wiz Posted August 3, 2014 Posted August 3, 2014 (edited) So this apparently happened: Bon Jovi's letter to Buffalo on why they bid: http://mobile.buffal...ticleRedirect=1 Link didn't work but I gotcha back. http://www.buffalonews.com/sports/bills-nfl/bon-jovis-letter-to-buffalo-why-were-bidding-on-the-buffalo-bills-20140803 There was a follow up piece as well from Graham: http://www.buffalone...w-york-20140803 Edited August 3, 2014 by The Wiz
YoloinOhio Posted August 3, 2014 Posted August 3, 2014 Link didn't work but I gotcha back. http://www.buffalonews.com/sports/bills-nfl/in-letter-to-fans-bon-jovi-vows-to-keep-bills-in-western-new-york-20140803 thanks!!
The Wiz Posted August 3, 2014 Posted August 3, 2014 thanks!! No problem. I actually has the links screwed up too. The first is the open letter from jbj and the second is the follow up article by Graham.
The Wiz Posted August 3, 2014 Posted August 3, 2014 I just do not trust him At All. I don't think anyone that hasn't had a lobotomy trust him.
Beerball Posted August 3, 2014 Posted August 3, 2014 thanks!! Sorry, I usually don't go here, but, why does that hack decide to bring in Donte at the end of the poorly written piece? How does that relate to JBJ's letter? Oh, it doesn't?
Wayne Cubed Posted August 3, 2014 Posted August 3, 2014 Link didn't work but I gotcha back. http://www.buffalonews.com/sports/bills-nfl/bon-jovis-letter-to-buffalo-why-were-bidding-on-the-buffalo-bills-20140803 There was a follow up piece as well from Graham: http://www.buffalone...w-york-20140803 Don't think this will really help Mr. Jovi's case, people/fans still won't trust him. It mostly that 2/3 of that ownership group is Toronto based. It's not Mr. Jovi fans don't like, it's the fact he hitched himself to this group. A better letter would have been "I'm ditching Tannenbaum and Rogers to form a group with...." Personally, I don't think it matters. I don't think they'll win the bid anyways.
YoloinOhio Posted August 3, 2014 Posted August 3, 2014 Don't think this will really help Mr. Jovi's case, people/fans still won't trust him. It mostly that 2/3 of that ownership group is Toronto based. It's not Mr. Jovi fans don't like, it's the fact he hitched himself to this group. A better letter would have been "I'm ditching Tannenbaum and Rogers to form a group with...." Personally, I don't think it matters. I don't think they'll win the bid anyways. the letter rings about as sincere as Jaws' defensive, emphatic overtures about him wanting to keep the team here and how could we ever possibly think otherwise.
Hplarrm Posted August 3, 2014 Posted August 3, 2014 AP (Wawrow) ran the story that Pegula and Trump would move forward. Same article said that he couldn't get confirmation one way or the other on Toronto. His sources confirmed 2. He couldn't get confirmation one way or another on the third (and neither has anyone else so far). [Like many I read several articles about this, but, I believe that the way I've characterized jw's article is correct] I find it hard to take any story seriously which talks about a Trump bid landing the team as: 1. It has to give his potential any serious consideration unless the article also does mere due diligence and explore whether Trump could achieve 75% approval as the current rules call for a bid to be successful. Maybe he does have enough money to bull through. I doubt it and this primary issue should at least be referenced. 2. Gambling drives NFL interest. From straight legal, straight illegal, fantasy games involving money but below enforcement concern to office pools gambling involves billons of dollars. The NFL lives with the illusion that everything is on the up and up though it pretends gambling does not exist. It lives with this illusion in part because it does not allow any connection with legal gambling whatsoever. Trump probably has sold his formal connections to Atlantic City, but obviously Trump developed whatever past strong business relationships and even friendships with folks still associated with gamblings and merely the hint of connection would make this a $ and cents risk which would eliminate his purchase. 3. Racial issues have in the real world invalidated rush Limbaugh from being an owner. Trump was the last high profile person left even publicly saying he had seen no reasonable evidence Obama was born in the state of Hawaii to an American citizen Mom. His public "no-nothing" stance appealing to the 20% oof idiots who will believe that Obama was a space alien if accused made him the public victim of derision the night before the US killed bin Laden. IF Trump ever became a serious possibility, the likelihood is that a vast majority NFLPA who are African-American would be fanned by Obama folks into opposing Trump. 4. Historically rich folk have played the game of supporting both GOP or Dems as it suited their overarching real desire which is to make a buck. Trump is a clear GOP guy and does the NFL as a business want to be so associated with a party that got fewer popular votes in 5 of the last 6 popular Pres elections? I think not. Yet, articles like the AP story above seem to live in a world where significant possibilities which make a Trump bid laughable are simply ignored. There is no need to buy any of these theories but to simply endorse the idea that potential reality does not exist is simply poor press work.
Tyrod's Tailor Posted August 3, 2014 Posted August 3, 2014 All very good points Hplarrm, and you didn't even mention the part when Trump was a USFL owner and SUED the NFL and tried to drive them out of business (failing spectacularly of course). I bet some owners still remember that.
voodoo poonani Posted August 3, 2014 Posted August 3, 2014 Don't think this will really help Mr. Jovi's case, people/fans still won't trust him. It mostly that 2/3 of that ownership group is Toronto based. It's not Mr. Jovi fans don't like, it's the fact he hitched himself to this group. A better letter would have been "I'm ditching Tannenbaum and Rogers to form a group with...." Personally, I don't think it matters. I don't think they'll win the bid anyways. Exactly. He could have aligned himself with others from WNY. The Rich family, Jacobs family, or an assortment of names that recently popped up that I never heard of. Instead it's a group based solely out of Toronto, who we know wants to see a team there. Rogers himself was looking to build a stadium there. I don't think a non-binding letter to a newspaper will aid his credibility in any way. It's a PR stunt, and a rather weak one.
Beerball Posted August 3, 2014 Posted August 3, 2014 I find it hard to take any story seriously which talks about a Trump bid landing the team as: 1. It has to give his potential any serious consideration unless the article also does mere due diligence and explore whether Trump could achieve 75% approval as the current rules call for a bid to be successful. Maybe he does have enough money to bull through. I doubt it and this primary issue should at least be referenced. 2. Gambling drives NFL interest. From straight legal, straight illegal, fantasy games involving money but below enforcement concern to office pools gambling involves billons of dollars. The NFL lives with the illusion that everything is on the up and up though it pretends gambling does not exist. It lives with this illusion in part because it does not allow any connection with legal gambling whatsoever. Trump probably has sold his formal connections to Atlantic City, but obviously Trump developed whatever past strong business relationships and even friendships with folks still associated with gamblings and merely the hint of connection would make this a $ and cents risk which would eliminate his purchase. 3. Racial issues have in the real world invalidated rush Limbaugh from being an owner. Trump was the last high profile person left even publicly saying he had seen no reasonable evidence Obama was born in the state of Hawaii to an American citizen Mom. His public "no-nothing" stance appealing to the 20% oof idiots who will believe that Obama was a space alien if accused made him the public victim of derision the night before the US killed bin Laden. IF Trump ever became a serious possibility, the likelihood is that a vast majority NFLPA who are African-American would be fanned by Obama folks into opposing Trump. 4. Historically rich folk have played the game of supporting both GOP or Dems as it suited their overarching real desire which is to make a buck. Trump is a clear GOP guy and does the NFL as a business want to be so associated with a party that got fewer popular votes in 5 of the last 6 popular Pres elections? I think not. Yet, articles like the AP story above seem to live in a world where significant possibilities which make a Trump bid laughable are simply ignored. There is no need to buy any of these theories but to simply endorse the idea that potential reality does not exist is simply poor press work. Potential reality? Actual reality is that Trump (based on multiple media sources) was selected to move on to the next round. The whys & why nots of Trump have been discussed ad nauseam but they are all conjecture, not fact based. Why would a piece on 2 groups moving to the next phase of the bidding get into this? As an aside...conjecture would be that JBJ has moved on to the next level. Else, why bother with an open letter to the City of Buffalo?
Wayne Cubed Posted August 3, 2014 Posted August 3, 2014 As an aside...conjecture would be that JBJ has moved on to the next level. Else, why bother with an open letter to the City of Buffalo? I wonder if the trust put him up to the letter. Well maybe not put him up to it but maybe they flat out said to him, after his non-binding bid, that they didn't trust him. If he wished to move on they would need to see something... I don't know maybe that's a bit far fetched.
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