Like A Mofo Posted May 25, 2005 Posted May 25, 2005 This is on the lines of another thread that was posted. We all have discussed the issue of what will happen to the Buffalo Bills after RW passes on, hopefully not for awhile, but one never knows. Would it be best to see the Bills become a publicly owned team like Green Bay? Here is some background info on the Packers: The Packers became a professional franchise in 1921. Financial troubles plagued the team and the franchise was lost the same year. The Packers found new backers the next year and regained the franchise. The financial backers, known as the "Hungry Five," formed the Green Bay Football Corporation. Based on the original 'Articles of Incorporation for the (then) Green Bay Football Corporation' put into place in 1923, if the Packers franchise was sold, after the payment of all expenses, any remaining monies would go to the Sullivan-Wallen Post of the American Legion in order to build "a proper soldier's memorial." This stipulation was enacted to ensure that the club remained in Green Bay and that there could never be any financial enhancement for the shareholder. The beneficiary was changed from the Sullivan-Wallen Post to the Green Bay Packers Foundation on the basis of a shareholder vote at the November 1997 meeting. In 1950, the Packers held a stock sale to again raise money to support the team. In 1956, area voters approved the construction of a new stadium, which would later be called Lambeau Field. Another stock sale occurred late in 1997 and early in 1998. It added 105,989 new shareholders and raised more than $24 million, monies which were utilized for the Lambeau Field redevelopment project. Priced at $200 per share, fans bought 120,010 shares during the 17-week sale, which ended March 16, 1998. Presently, 111,507 people (representing 4,748,910 shares) can lay claim to a franchise ownership interest. So what I am understanding now after reading this is, could the Bills could find a group of backers who could buy the franchise, name a beneficiary to ensure the Bills stay in Buffalo, and then that group has a stock sale? What are your thoughts?
Sound_n_Fury Posted May 25, 2005 Posted May 25, 2005 The NFL will never allow another publicly owned team (too much financial disclosure risk for the other owners).
Fezmid Posted May 25, 2005 Posted May 25, 2005 The NFL will never allow another publicly owned team (too much financial disclosure risk for the other owners). 344199[/snapback] Yeah, I'm pretty sure I read somewhere that the NFL prohibits that now. CW
Like A Mofo Posted May 25, 2005 Author Posted May 25, 2005 Yeah, I'm pretty sure I read somewhere that the NFL prohibits that now.CW 344228[/snapback] Thats too bad, because IMO it would make sense for teams that play in cities like Buffalo. Oh well
Dr. Fong Posted May 25, 2005 Posted May 25, 2005 1. It'll never happen because of the NFL rules as has been pointed out. 2. Even if it were allowed, would you trust W.N.Y. politicians to run your beloved Bills?
envirojeff Posted May 25, 2005 Posted May 25, 2005 IMO, The state of the economy in WNY sucks so bad that they would be sold off faster than if owned by an individual or company. Jeff
DeeRay Posted May 25, 2005 Posted May 25, 2005 ain't happening. And the NFL will never allow another publically owned team. They actually would like GB to have a single owner and not be publically owned. When Ralph dies, a new owner will buy the team. The new owner will assess the profit potential if the team were to remain in WNY... and then make a wise decision on whether to keep it where it is (and hold the tax payers hostage) or follow the money... wherever that may lead. If I were a businessman and bought the Bills, why the hell would I want to keep it in WNY? This state is, without a doubt, the most fugged up state in the country. It's not business friendly and it's not resident friendly. The politicians are among the most corrupt in the world and you have a voting popualce that is divided 60-40 (NYC vs. upstate)... which means there is absolutely no point for an upstater to vote in race for governor, or even a US senator.
Chalkie Gerzowski Posted May 25, 2005 Posted May 25, 2005 ain't happening. And the NFL will never allow another publically owned team. They actually would like GB to have a single owner and not be publically owned. When Ralph dies, a new owner will buy the team. The new owner will assess the profit potential if the team were to remain in WNY... and then make a wise decision on whether to keep it where it is (and hold the tax payers hostage) or follow the money... wherever that may lead. If I were a businessman and bought the Bills, why the hell would I want to keep it in WNY? This state is, without a doubt, the most fugged up state in the country. It's not business friendly and it's not resident friendly. The politicians are among the most corrupt in the world and you have a voting popualce that is divided 60-40 (NYC vs. upstate)... which means there is absolutely no point for an upstater to vote in race for governor, or even a US senator. 344288[/snapback] Time to draw up secession papers.
stuckincincy Posted May 25, 2005 Posted May 25, 2005 Time to draw up secession papers. 344307[/snapback] Can I have Colden?
Chalkie Gerzowski Posted May 25, 2005 Posted May 25, 2005 Can I have Colden? 344321[/snapback] Yes, but it must remain the quaint, windy road community that it is now. I do enjoy a pizza at one of the fine ski lodges on the outskirts of Kissing Bridge.
stuckincincy Posted May 25, 2005 Posted May 25, 2005 Yes, but it must remain the quaint, windy road community that it is now. I do enjoy a pizza at one of the fine ski lodges on the outskirts of Kissing Bridge. 344347[/snapback] Indeed it will. My Dad built a cottage up on Heath Hill a few years before he passed away in '57. I'd spend the summer up there with my Mom and siblings. Used to trek down into town going through the woods, and would swim in the creek past the waterfall. There used to be an old dilapatated mill there. The town then consisted of a Red & White general store by the bridge, a snack bar, the hardware store and a few domiciles.
Chalkie Gerzowski Posted May 25, 2005 Posted May 25, 2005 I believe it still retains much of that character, the whole Colden, Boston, E. Concord region.
HopsGuy Posted May 25, 2005 Posted May 25, 2005 Here's a page about the Green Bay Packer's stock. I remeber in the late 80s/early 90s the Boston Celtics went public. Their stock traded on the American Stock Exchange (or as it is better known, the den of thieves). It was taken private and has been ever since. I think some arena football teams are publicly owned and trade on the Nasdaq Small Cap. Anyway, the other posters are correct. No other team will every go public. It doesn't make financial sense for the league, and God knows that everything that Tagliabue does makes good financial sense.
Buftex Posted May 25, 2005 Posted May 25, 2005 Since it likely will not happen, I say Ralph, if he wants to secure the teams future in WNY, takes Tom Golisano (billionaire, rumoured to be very interested) as a minoriy owner now, under the pretnse that Golisano gets full ownership whenever, god forbid, Ralph passes, or decides he would rather enjoy his final years as a Bills fan, rather than as owner...this was done with Art Modell in Baltimore (although his concerns were more wealth related, not health related). Could it work? Assuming the two could work together, I think it would be beneficial to both. Ralph could get all his financial ducks in a row for his family, and Golisano could learn the ins and outs of NFL ownership from someone who has seen it all... Not being that close to Buffalo anymore, I am not sure what the opionion of locals is of Golisano. At the time he purchased the Sabres, he seemed very interested in perserving the economy of WNY, as much to protect his other business investments, as for his love of sport...on the national level, I have heard nothing but positive things about him...am I being naive?
Arkady Renko Posted May 25, 2005 Posted May 25, 2005 Time to draw up secession papers. 344307[/snapback] Finally, people are seeing things my way...
Chalkie Gerzowski Posted May 25, 2005 Posted May 25, 2005 Finally, people are seeing things my way... 344469[/snapback] not really finally, should have happened long ago.
Fake-Fat Sunny Posted May 25, 2005 Posted May 25, 2005 1. It'll never happen because of the NFL rules as has been pointed out. 2. Even if it were allowed, would you trust W.N.Y. politicians to run your beloved Bills? 344239[/snapback] 1. The Cleveland/Baltimore example shows that the NFL is very beatable in a showdown with a municipality that wants their team. Just because the NFL does not want it does not mean it will not happen. 2. I do not trust Joel Giambra and Tony Massiello, but i trust John Rigas and Mark Hamister even less. Ralph has been great and I am quite thankful to him that he invested in the Bills in Buffalo and has kept them here. However, one should not mistake the interests of the free market as being exactly the same as the interests of the community or Bills fans because the two are quite different. I'm all for the free market regarding the Bills if all owners were like RWS. However, they ain't and as stupid as GOP folks like Giambra are or Democrats like Gorski was, I choose them over John Rigas everytime.
Arkady Renko Posted May 25, 2005 Posted May 25, 2005 1. The Cleveland/Baltimore example shows that the NFL is very beatable in a showdown with a municipality that wants their team. Just because the NFL does not want it does not mean it will not happen. 344581[/snapback] The NFL is not very beatable. The Browns move happened at the right time. We should not expect any similar treatment or sympathy if the Bills leave. People will say that a team leaving Buffalo was inevitable. Did the NFL do much for Baltimore when the Colts left? Did the NFL do anything for Houston when the Oilers left? (They only went to Houston as a last-minute replacement for an LA team) The NFL had pressure from Congress and did something for Cleveland. Wouldn't have happened otherwise. I doubt the pressure will be there for Buffalo.
Arkady Renko Posted May 25, 2005 Posted May 25, 2005 not really finally, should have happened long ago. 344577[/snapback] Let me rephrase: I am glad to find out that more people see the New York State issue like I do.
JimBob2232 Posted May 25, 2005 Posted May 25, 2005 Did the NFL do much for Baltimore when the Colts left? Did the NFL do anything for Houston when the Oilers left? (They only went to Houston as a last-minute replacement for an LA team) Yes....they caved and gave them new teams Same thing they will do with LA! Now the real question is this...I am an out of town bills fan...and I am not from buffalo (albany). I am now in Virginia. For the sake of discussion, lets say a new team comes to buffalo (unlikely...). I am not sure I will be a bills fan... I am attached to this team...but if they moved and a completely different franchise came in, it would be interesting to see what happens.
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