How NFL money to help fund a new Bills stadium - Update NYS & and Erie County agree to pay nearly $1 billion. Owners meeting $200 M Vote

[PrimeTime101]

3 hours ago, RangerDave said:

I also wonder how much the players, coaches, trainers, etc. pay in NYS income tax each year?  With the cap at, say, $200m, the amount paid by just the players at a rate of 8.82% would be over $17m each year.  That doesn't include the amounts in property taxes, sales tax, etc.

there ya have it...

 

 

[Big Turk]

2 hours ago, Mr. WEO said:

 

When do they build their first one?

 

You know what I mean smart ass

[JakeFrommStateFarm]

1B seems to be a pretty large public investment. 

 

Atlanta taxpayers only put up 200-300m I believe. And that was payed by out of towners paying a raised hotel/motel and rental car tax. Las Vegas did the same thing. 

 

What would the tax hike be per NYS citizen?

 

And what would be the desire for citizens to pay increased taxes in an environment of record inflation and gas prices ?

[SlimShady'sSpaceForce]

Just now, JakeFrommStateFarm said:

1B seems to be a pretty large public investment. 

 

Atlanta taxpayers only put up 200-300m I believe. And that was payed by out of towners paying a raised hotel/motel and rental car tax. Las Vegas did the same thing. 

 

What would the tax hike be per NYS citizen?

 

And what would be the desire for citizens to pay increased taxes in an environment of record inflation and gas prices ?

how long ago?  
 

How much did the LA Stadium cost?

 

between $5 billion and $6 billion

[JakeFrommStateFarm]

8 minutes ago, SlimShady'sSpaceForce said:

how long ago?  
 

How much did the LA Stadium cost?

 

Mercedes benz was opened in 2017 at a cost of 1.5 billion. It has a retractable roof.

 

Rams owner almost payed for his entire stadium by himself with very little public financing. He makes his money back in PSLs and corporate luxury boxes. Sofi stadium was 5B

Edited March 26, 2022 by JakeFrommStateFarm

[UConn James]

4 hours ago, SoCal Deek said:

Owning an NFL Team is not ‘one of the most lucrative businesses in the history of business’. In fact I’m not sure if a single owner makes the majority of their money from owning a team. They make their real money in another market. ( I could be wrong.) Is it an investment? Yes it is. But it’s a long term play, not a short term flip. 

Mark Davis, iirc, Raiders are his only source of income.

[SoCal Deek]

1 hour ago, UConn James said:

Mark Davis, iirc, Raiders are his only source of income.

His father owned it and gave it to him

I don’t recall where Al Davis made his money

[mikemac2001]

4 minutes ago, SoCal Deek said:

His father owned it and gave it to him

I don’t recall where Al Davis made his money

Owning a football team

[SoCal Deek]

3 hours ago, Mr. WEO said:

 

Since he bought the team almost 8 years ago, the Bills have, according to Forbes, netted Pegula 383 million in profit and have increased his net worth nearly another billion on top of that.

 

It's a business with a guaranteed annual minimum income/revenue where the value of the business only increases at over 10% a year.  

 

In a bigger market, Pegula wouldn't be more inclined to offer more for the stadium.  

That doesn’t sound like the windfall others on here trying to make it out to be. 

[SoCal Deek]

6 minutes ago, mikemac2001 said:

Owning a football team

So where did he get his money to join the AFL?

[mikemac2001]

7 minutes ago, SoCal Deek said:

So where did he get his money to join the AFL?

Being a football player / coach 

 

How They Made Their Money: Al earned the family's money, starting as a line coach at USC and moving up to become a player personnel assistant, an assistant coach, a head coach, a general manager, an AFL league commissioner and then eventually the owner of the Raiders.

Edited March 26, 2022 by mikemac2001

[Jeff in pa.]

Just curious. Is the new stadium going to be owned by the county?

[Mr. WEO]

2 hours ago, Big Turk said:

 

You know what I mean smart ass

i. Know.  It’s a cheeky way of pointing out how wrong your post was.

 

the NFL is explicitly in the business of avoiding stadium building and foisting this on taxpayers instead.  
 

 

17 minutes ago, SoCal Deek said:

That doesn’t sound like the windfall others on here trying to make it out to be. 

 

it’s 9-10 figures of free money.  That’s a windfall by any known definition.

[SoCal Deek]

12 minutes ago, mikemac2001 said:

Being a football player / coach 

 

How They Made Their Money: Al earned the family's money, starting as a line coach at USC and moving up to become a player personnel assistant, an assistant coach, a head coach, a general manager, an AFL league commissioner and then eventually the owner of the Raiders.

Thanks!

6 minutes ago, Mr. WEO said:

i. Know.  It’s a cheeky way of pointing out how wrong your post was.

 

the NFL is explicitly in the business of avoiding stadium building and foisting this on taxpayers instead.  
 

 

 

it’s 9-10 figures of free money.  That’s a windfall by any known definition.

Earning 300 million over a decade on an initial investment of 1.5 billion is not a windfall

You can make way more than that with the help of a good financial advisor

[ddaryl]

15 minutes ago, Mr. WEO said:

it’s 9-10 figures of free money.  That’s a windfall by any known definition.

You will have to explain the free money part, or how you define "free money"
 

[Ed_Formerly_of_Roch]

15 hours ago, BillsShredder83 said:

This actually eased my troubles some so I appreciate it! The wind is absolutely the #1 problem take the wind out and minimize some rain. Any idea if the upper decks will have some kind of partial overhead covering?

The wind and rain combo when its 35f out is just miserable. I'm past the point of needing to feel macho. It plain sucks to spend a couple hundred bucks between tailgate food, tickers, parking, and be soaking wet, swirling winds (/rant)

 

I never said it's going to happen, just that they should relatively easily address it LOL

 

Not certain  on the upper deck but from what's been written I'm envisioning something that looks like Hard Rock, so yeah I believe all seats will be covered.  Likely the people who could get the wettest would be those closest to field in a driving rain, could come up under the overhand

 

 

14 hours ago, Big Turk said:

Committee recommends their G4 application for the loan be approved and presented at owners meeting. 

 

Seriously, does anyone expect them to turn it down? The NFL is in the stadium building business.

 

24 of the 32 teams need to approve it. Who dares vote No?

 

So I've read this statement like three times:

 

Up to $150 million of the loan is forgivable, repaid through the visiting teams' share of Bills ticket revenue over 25 years

 

Does this mean say when the Bills visit Miami the Bills share of ticket sales will go to repay the loan?  Or the other way, when Miami comes to Buffalo that share will go towards the loan?

[Buffalo716]

3 hours ago, JakeFrommStateFarm said:

Mercedes benz was opened in 2017 at a cost of 1.5 billion. It has a retractable roof.

 

Rams owner almost payed for his entire stadium by himself with very little public financing. He makes his money back in PSLs and corporate luxury boxes. Sofi stadium was 5B

Los Angeles and buffalo are two different animals .. same with atl and buffalo

 

Not to mention the economy of building things today compared to 2017 is like tripled

Edited March 26, 2022 by Buffalo716

[Mr. WEO]

2 hours ago, SoCal Deek said:

Thanks!

Earning 300 million over a decade on an initial investment of 1.5 billion is not a windfall

You can make way more than that with the help of a good financial advisor

 

 

You missed the part where I said his 1.4 billion investment has risen in value 64% in 8 years---simply by existing.

 

Plus it has paid a nice dividend averaging over 40 million a year---all with no significant input by the owner being necessary.

 

 

2 hours ago, ddaryl said:

You will have to explain the free money part, or how you define "free money"
 

 

 

In 2021, the revenue given (through league revenue sharing) equally to every team was 274 million.  The salary cap was 183 million.  

 

So every team every year has their player and staff salaries covered, without selling a single ticket or jersey yet, whether the team is a perennial playoff contender or the worst in the league.

[Big Turk]

2 hours ago, Mr. WEO said:

i. Know.  It’s a cheeky way of pointing out how wrong your post was.

 

the NFL is explicitly in the business of avoiding stadium building and foisting this on taxpayers instead.  
 

 

 

it’s 9-10 figures of free money.  That’s a windfall by any known definition.

 

They are in the business of building new stadiums to generate more revenues, seat licences and more luxury boxes. Obviously they will do their best to pay the least amount of money possible to do it. That doesn't change the fact they want to build as many new stadiums as possible.

[Mr. WEO]

42 minutes ago, Big Turk said:

 

They are in the business of building new stadiums to generate more revenues, seat licences and more luxury boxes. Obviously they will do their best to pay the least amount of money possible to do it. That doesn't change the fact they want to build as many new stadiums as possible.

 

They aren't in the business of building at all.  No need to repeat--it won't become more correct.  

 

They demand new stadiums.  A very small number of individual owners build them....the rest extort new stadiums from the public and fans.  That's not a "building" business at all.  "The NFL" could, however, easily fund the entire cost of each new stadium as it comes due for one.  Then you could accurately claim they are in the business of building stadiums.

 

That day isn't coming, however.