Fingon Posted August 15, 2008 Posted August 15, 2008 Adam Benigni just stated that for the Bills to move to toronto, an owner would have to pay $800 million to $1 billion for the franchise, and then pay $600-900 million as a relocation fee, and THEN help finance a new stadium in toronto.
Chandler#81 Posted August 15, 2008 Posted August 15, 2008 So, approximately $3B to buy and move? Good! Hope it's true
billsfanone Posted August 15, 2008 Posted August 15, 2008 How about if they just keep an office in Buffalo, but play in Toronto? Like the Jets and Giants do in NY/NJ.
bobblehead Posted August 15, 2008 Posted August 15, 2008 I've often wondered who would be the first major sports franchise to own two stadiums.
Buffalo_soul-dier Posted August 15, 2008 Posted August 15, 2008 I thought i read somewhere that that relocation fee is split amongst the owners in the league and plays a role in their voting to approve a move. Might be totally off on that tho. Hope its not true tho...cuz nobody is gonna pay 3billion to move the bills on top of dealing with the chaos that will come from NYS and buffalo for attempting to take our team
PromoTheRobot Posted August 15, 2008 Posted August 15, 2008 This is very interesting indeed. In this slumping economy I doubt anyone would jump at dropping $3B on a sports team. What this does do is make a shared Toronto/Buffalo scenario more likely. Keep the Bills in Buffalo but play up to 3 games (1 pre, 2 reg) in TO, especially if the NFL adds more regular season games (which is rumored to be on the table...either cut two pre-season games or add a 17th neutral site game) I know purists will howl but I can live sharing the Bills with Toronto if it means we are viable and the team (mostly) stays in Buffalo. PTR
Fingon Posted August 15, 2008 Author Posted August 15, 2008 Does Green Bay still do the Milwaukee thing? No
sullim4 Posted August 15, 2008 Posted August 15, 2008 This is why: http://farm3.static.flickr.com/2363/170274..._71c9a69c98.jpg What a joke.
apuszczalowski Posted August 15, 2008 Posted August 15, 2008 Does Green Bay still do the Milwaukee thing? Not since '94 I don't know how much I believe that. Who in their right mind would pay an extra $600 million just to relocate a team? Especially with the league wanting a team in LA so bad. Although I think if one person could afford to, and would be willing to do it, its Ted Rogers. They said in one article that his personal worth is around the $7 billion mark. It would be nice to have him as an owner if he would keep them based in Buffalo, and share with Toronto, but theres no way that happens. The worst part about this is that it really limits what happens to the Bills when Ralph passes away. We know theres no way his family keeps the team, and you have now limited the team in potential owners because this would turn alot of potential owners off since they are forced to keep the team in Buffalo no matter what happens, So someone who might be willing to purchase them and keep them in buffalo to see if they can compete with the majority of the league in revenue where they are might be scared off since they are handcuffed by $600 million if the experiment doesn't work
Fingon Posted August 15, 2008 Author Posted August 15, 2008 Not since '94 I don't know how much I believe that. Who in their right mind would pay an extra $600 million just to relocate a team? Especially with the league wanting a team in LA so bad. Although I think if one person could afford to, and would be willing to do it, its Ted Rogers. They said in one article that his personal worth is around the $7 billion mark. It would be nice to have him as an owner if he would keep them based in Buffalo, and share with Toronto, but theres no way that happens. The worst part about this is that it really limits what happens to the Bills when Ralph passes away. We know theres no way his family keeps the team, and you have now limited the team in potential owners because this would turn alot of potential owners off since they are forced to keep the team in Buffalo no matter what happens, So someone who might be willing to purchase them and keep them in buffalo to see if they can compete with the majority of the league in revenue where they are might be scared off since they are handcuffed by $600 million if the experiment doesn't work Not to mention that Toronto and LA will require a new stadium.
Fingon Posted August 15, 2008 Author Posted August 15, 2008 I wonder what the interest would be on a $3 billion loan? It has to be like $50-$100 mill a year in payments.
Matt in KC Posted August 15, 2008 Posted August 15, 2008 I wonder what the interest would be on a $3 billion loan? It has to be like $50-$100 mill a year in payments. A 30 year loan at 6.0% would be a $18 Million per month payment.
Fingon Posted August 15, 2008 Author Posted August 15, 2008 A 30 year loan at 6.0% would be a $18 Million per month payment. Ouch.... 1 month payment= average NFL team profit. If the Bills are moved; someone will have to pay with $2 billion in cash.
Koufax Posted August 15, 2008 Posted August 15, 2008 Right, but if he can get an Adjustable Interest Only loan and if the market keeps rising and he can refinance and take out equity based on the appreciation before the loan resets he could make it work...no wait that's the housing market...
Lone Wolf Posted August 15, 2008 Posted August 15, 2008 I do not think this is correct. I am pretty sure that when this whole Toronto business came about that it was reported there would be no relocation fee since Toronto was considered part of the Bills home market. Even though the team would be changing cities, they are not really changing "markets", so it would not be considered a relocation. Again, I do not have firm facts on this, just something I kind of remember from several months ago. Anybody else recall this???
Realist Posted August 15, 2008 Posted August 15, 2008 I do not think this is correct. I am pretty sure that when this whole Toronto business came about that it was reported there would be no relocation fee since Toronto was considered part of the Bills home market. Even though the team would be changing cities, they are not really changing "markets", so it would not be considered a relocation. Again, I do not have firm facts on this, just something I kind of remember from several months ago. Anybody else recall this??? I think I remember hearing something like this also. I'm hoping that Promo's idea is what ends up happening. 2 home games in TO and 6 in the Buff. If that's what it means to keep the team in Buffalo, I'm all for it.
MikeInABQ Posted August 15, 2008 Posted August 15, 2008 Can't remember where I read it so it could be total BS, but I heard that Toronto was not necessarily considered part of Buffalo's market....before these 8 games were granted to them. Now, they are.
Fingon Posted August 15, 2008 Author Posted August 15, 2008 I do not think this is correct. I am pretty sure that when this whole Toronto business came about that it was reported there would be no relocation fee since Toronto was considered part of the Bills home market. Even though the team would be changing cities, they are not really changing "markets", so it would not be considered a relocation. Again, I do not have firm facts on this, just something I kind of remember from several months ago. Anybody else recall this??? Except sources in the league say it would be around $600 to $900 million
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