mackey7789 Posted August 16, 2008 Posted August 16, 2008 ...the team "will go to the highest bidder" after he passes away. I read this all the time - people mentioning this on message boards, on web sites, etc. I would like a quote where Ralph Wilson has said his team will be sold to the "highest bidder" when he dies. I can't understand why he would take his lifelong work and have it sold to someone who has no ties to his family or friends. Please find me a quote or an article - i'd like to see it from the horses mouth because I think it's all speculation.
Patience Posted August 16, 2008 Posted August 16, 2008 Wouldn't it happen by default, if he doesn't sell the team before he passes?
Captain Hindsight Posted August 16, 2008 Posted August 16, 2008 It goes to his family and they have decide rather than pay the taxes on it they willl sell it to the highest bidder
Buffalo_soul-dier Posted August 16, 2008 Posted August 16, 2008 but if they decided to sell it...theoretically they can decide who they want to sell it to right? For example if they are offered 10 million less and are compelled to sell it to a guy who says hell keep em here, whats to stop them? granted theyd have to be willing to take that 10million loss...but when you have 850 million, whats 10 more?! Saying that itll go to the highest has such a negative connotation to it...
Flbillsfan#1 Posted August 16, 2008 Posted August 16, 2008 It was in a Buffalo News article posted on Two Bills Drive quite a while ago. Long before the Toronto series was announced. He said he would not put any limitations on whom the team would be sold to.
mackey7789 Posted August 16, 2008 Author Posted August 16, 2008 It was in a Buffalo News article posted on Two Bills Drive quite a while ago. Long before the Toronto series was announced. He said he would not put any limitations on whom the team would be sold to. Find a quote because i've read every article on here and i've never seen that.
Lori Posted August 16, 2008 Posted August 16, 2008 For years it's been speculated that soon after the death of owner Ralph Wilson Jr., the Bills will be gone from Western New York. And nothing has changed that perception. Ralph's daughters, who now work in the organization but are both of grandmother age, have no interest in taking over the team ... especially given the punitive nature of the inheritance tax. Instead, the Bills' 89-year-old owner has indicated the franchise will be sold to the highest bidder upon his death. A direct quote from Ralph? Nope, one from a guy who has known him -- and covered the team -- for 35 years. This, from the Globe and Mail: How many years Wilson himself has left is a topic that gets lots of attention in Buffalo these days. The Bills' owner has made it clear he will not sell the team before his death and his family has no interest in owning it once he's gone. Instead, his estate will sell the Bills to the highest bidder. A billion dollars for a football team might make sense in a big, rich market like Toronto or Los Angeles. But Buffalo? "It is the situation as it always has been [the team] will be sold," Wilson said in June. "It hasn't changed. I know the people are jumpy there, but I get jumpy the more I hear about it." The guy who wrote Relentless: The problem — one that Schumer said he would not discuss for obvious reasons — is that there is no ownership succession plan in place for the time when the 89-year-old Wilson passes away and the franchise will ultimately be sold to the highest bidder. The Bills have maintained this is an extension of their bid to regionalize their base. But fears have been raised that these games mark the first step toward permanent relocation, especially once Wilson dies. The 89-year-old Wilson doesn't intend to sell or relocate the Bills while he's alive, but does plan to have the team sold to the highest bidder after his death. I sincerely doubt Pollock, Brunt, Maiorana, and Wawrow are getting their information from websites and message boards.
mackey7789 Posted August 16, 2008 Author Posted August 16, 2008 A direct quote from Ralph? Nope, one from a guy who has known him -- and covered the team -- for 35 years. This, from the Globe and Mail: The guy who wrote Relentless: I sincerely doubt Pollock, Brunt, Maiorana, and Wawrow are getting their information from websites and message boards. Still no direct quote from Ralph. The only evidence you provided was what everyone knows - the team will be sold after he passes. Does he say "to the highest bidder no matter who they are or where they want them moved"? No. I seriously doubt he has nothing in his will that will steer the sale in someones favor. I also highly doubt that the NFL will let a buyer from LA win the bid over a similar buyer from WNY. This happens all the time in franchise transactions. Bottom line - nobody knows what will happen after he passes. Thankfully, we have a loyal fanbase and a commissioner from WNY. Not to mention, people like Schumer and Kelly who appear to have their ducks in a row. There has certainly been behind the scene discussions that nobody knows about. Only time will tell. I still would like to see a direct quote that indicates it will go to the highest bidder no matter what. Still have not seen it.
nucci Posted August 16, 2008 Posted August 16, 2008 What difference does it make if he said it or not. When he passes the team will be sold. Do you really care for how much? If you are selling your house , are you taking the highest bid or not? I know that's on a different scale but the same premise. I don't know how religious you are but do you think he cares what happens after he dies. He's dead. Don't think he's going to know anything after that.
Tim Anderson's Lunch Pail Posted August 16, 2008 Posted August 16, 2008 Still no direct quote from Ralph. The only evidence you provided was what everyone knows - the team will be sold after he passes. Does he say "to the highest bidder no matter who they are or where they want them moved"? No. I seriously doubt he has nothing in his will that will steer the sale in someones favor. I also highly doubt that the NFL will let a buyer from LA win the bid over a similar buyer from WNY. This happens all the time in franchise transactions. Bottom line - nobody knows what will happen after he passes. Thankfully, we have a loyal fanbase and a commissioner from WNY. Not to mention, people like Schumer and Kelly who appear to have their ducks in a row. There has certainly been behind the scene discussions that nobody knows about. Only time will tell. I still would like to see a direct quote that indicates it will go to the highest bidder no matter what. Still have not seen it. Dude, there is not quote because IT'S THE LAW. When he passes, it becomes part of his estate. The executor of his estate has a responsibility to sell it to the highest bidder. Loyal ties to a city are absolutely irrelevent.
Tsaikotic Posted August 16, 2008 Posted August 16, 2008 your being a tad ridiculous here mackey....sounds like what your looking for is for R.Wilson to knock on your door and say "I'M selling the team to the highest bidder after I die"....If your really concerned about whether he stated it in a press release or not why don't you get off your ass and do a search on the Bills site...I'm pretty confident that if a news reporter is stateing it ,it most likely came from Ralph's mouth or someone high up in the organization...I'm sure they're not asking the towel boys what Ralph plans on doing after he dies
Lori Posted August 16, 2008 Posted August 16, 2008 Still no direct quote from Ralph. The only evidence you provided was what everyone knows - the team will be sold after he passes. Does he say "to the highest bidder no matter who they are or where they want them moved"? No. I seriously doubt he has nothing in his will that will steer the sale in someones favor. I also highly doubt that the NFL will let a buyer from LA win the bid over a similar buyer from WNY. This happens all the time in franchise transactions. Bottom line - nobody knows what will happen after he passes. Thankfully, we have a loyal fanbase and a commissioner from WNY. Not to mention, people like Schumer and Kelly who appear to have their ducks in a row. There has certainly been behind the scene discussions that nobody knows about. Only time will tell. I still would like to see a direct quote that indicates it will go to the highest bidder no matter what. Still have not seen it. How about you do your own damn research, then? I'm out of here.
AlbanyBill Posted August 16, 2008 Posted August 16, 2008 Isn't the issue that he doesn't want his kids to have to pay the estate taxes after he dies or something like that?
JinWPB Posted August 16, 2008 Posted August 16, 2008 Isn't the issue that he doesn't want his kids to have to pay the estate taxes after he dies or something like that? That is a major concern , but I believe there is a window in the tax law coming soon and if he dies during that period there is zero estate tax. Anybody hear a tax consultant , want to clarify that. Just checked, Fed estate tax law expires Dec.31 2010. As it stands if Ralph died after that but before new law was enacted.His family would owe zero Fed. estate tax. They could sell a minority ownership that could run the team for them, still collect on the Bills operating profits and be rich as a Saudi prince.
JinWPB Posted August 16, 2008 Posted August 16, 2008 With Ralph's luck , he will croak during halftime of the big game,as the Bills end up winning Superbowl for 2010 season.
LongLiveRalph Posted August 16, 2008 Posted August 16, 2008 ALEX TREBECK: "Ted Rogers, Charles Schumer, Ralph Wilson." CLIFF CLAVEN: "Who are, Three people who have never been in my kitchen?"
AlbanyBill Posted August 16, 2008 Posted August 16, 2008 With Ralph's luck , he will croak during halftime of the big game,as the Bills end up winning Superbowl for 2008 season. Fixed
WellDressed Posted August 16, 2008 Posted August 16, 2008 When Mr. Wilson leaves us, I will be the one with the black armband.
WellDressed Posted August 16, 2008 Posted August 16, 2008 That is a major concern , but I believe there is a window in the tax law coming soon and if he dies during that period there is zero estate tax. Anybody hear a tax consultant , want to clarify that. Just checked, Fed estate tax law expires Dec.31 2010. As it stands if Ralph died after that but before new law was enacted.His family would owe zero Fed. estate tax. They could sell a minority ownership that could run the team for them, still collect on the Bills operating profits and be rich as a Saudi prince. Your job= Sign OJ to a 1 day contract.
AlbanyBill Posted August 16, 2008 Posted August 16, 2008 I'm wondering if there can be a bill at the federal level to exempt Ralph's family from paying the estate tax in event of his death, in an effort to keep Bills here. Does anyone know if this is practiced at all? I know at state level groups/individuals can get tax exemptions for real property taxes...
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