Mr. WEO Posted October 16, 2009 Posted October 16, 2009 Ralph' wife inherits the team. As his spouse, she is exempt from federal estate taxes. She then sells fractional shares of the team to whomever wishes to by them (maybe even Kelly's mysterious gang of high rollers will come out of the shadows). This way, each "owner" has a relatively low debt to service, Ms. Ralph pays taxes only on the fraction that she sells--and makes a mint---and the coterie of local buyers will assure the team stays in Buffalo. They can all split the 20-30 million a year Ralph takes from the team. Isn't this what Miami is doing?
JohnC Posted October 16, 2009 Posted October 16, 2009 Ralph' wife inherits the team. As his spouse, she is exempt from federal estate taxes. She then sells fractional shares of the team to whomever wishes to by them (maybe even Kelly's mysterious gang of high rollers will come out of the shadows). This way, each "owner" has a relatively low debt to service, Ms. Ralph pays taxes only on the fraction that she sells--and makes a mint---and the coterie of local buyers will assure the team stays in Buffalo. They can all split the 20-30 million a year Ralph takes from the team. Isn't this what Miami is doing? WEO, What kind of narcotic are you imbibing? Ralph stated that his wife will not take control of HIS franchise when he passes. The team is going to be sold to the highest bidder. It is clearly stated in his will. End of the story. Ralph has no interest or concern over where the franchise ultimately ends up. His desire is very simple: sold to the HIGHEST bidder. Your fantasy scenario is what it is: a fantasy. As you indicated there are legal maneuvers to ensure that the team stays in western NY. The baron owner is not interested in creative strategies that outsiders can manufacture. He is not turning over the franchise to his wife. It is going to be auctioned off to the highest bidder. Ralph is Ralph. If you don't know that by now you are very naive.
8-8 Forever? Posted October 16, 2009 Posted October 16, 2009 Ralph' wife inherits the team. As his spouse, she is exempt from federal estate taxes. She then sells fractional shares of the team to whomever wishes to by them (maybe even Kelly's mysterious gang of high rollers will come out of the shadows). This way, each "owner" has a relatively low debt to service, Ms. Ralph pays taxes only on the fraction that she sells--and makes a mint---and the coterie of local buyers will assure the team stays in Buffalo. They can all split the 20-30 million a year Ralph takes from the team. Isn't this what Miami is doing? You are missing something. Mrs. Ralph does not want an interest in the team. She is out. She doesn't want to be Georgia Frontieri of Rams lore. Unless Ralph has been lying, the team is auctioned off and that is that. Having said all this, two things in favor of the numbers possibly working in WNY's favor is the fact that any buyer is required to have a 70,000 seat stadium. L.A. does not have one, nor does any other legit candidate city. During these times, no local/state authority will be funding a stadium. This is a huge burden on the numbers for any buyer. Plus, you know you will have the stadium filled in WNY, you do not know this for sure anywhere else. Therefore if some guy from indiana buys the team, he has to think twice before moving the franchise away from RWS and the fan base.
ET1062 Posted October 16, 2009 Posted October 16, 2009 It is clearly stated in his will. So, you have read his will? Where can I read it, maybe he is leaving me a few scraps.
Mr. WEO Posted October 16, 2009 Author Posted October 16, 2009 What am I imbibing??? Kilos of real my friend! You are all missing the point. If Ralph kicks tomorrow--there is no highest bidder. Mrs. Ralph becomes the owner of the team. A buyer may be months, if not longer, away (Kelly and his friends don't have a billion dollars). She WILL own the team. There is no "out" until she sells. It is part of his estate--it will go to a beneficiary. My plan allows her to sell it in parcels. If there are local parties intersted, this is the only way any Buffalonian will be able to finance it. She doesn't have to do anything as far as running the team or representing the team as an owner. Any of the others could do this. She would be reduced to an investor, with a tidy return each year. The buyers get a full stadium every game. We get a chance the chance to have an ownership interested in fielding a respectable football team.
plenzmd1 Posted October 16, 2009 Posted October 16, 2009 What am I imbibing??? Kilos of real my friend! You are all missing the point. If Ralph kicks tomorrow--there is no highest bidder. Mrs. Ralph becomes the owner of the team. A buyer may be months, if not longer, away (Kelly and his friends don't have a billion dollars). She WILL own the team. There is no "out" until she sells. It is part of his estate--it will go to a beneficiary. My plan allows her to sell it in parcels. If there are local parties intersted, this is the only way any Buffalonian will be able to finance it. She doesn't have to do anything as far as running the team or representing the team as an owner. Any of the others could do this. She would be reduced to an investor, with a tidy return each year. The buyers get a full stadium every game. We get a chance the chance to have an ownership interested in fielding a respectable football team. Just like the guy who stated it is clearly stated in the will, how in the hell do you know she will own it after he dies??? Have seen the will? Maybe he has done some fancy estate planning(of which i know little) and set up some kind of A/B trust or something like that. Until any of us sees his actual will, all this stuff is specualtion at best
Albany,n.y. Posted October 16, 2009 Posted October 16, 2009 What am I imbibing??? Kilos of real my friend! You are all missing the point. If Ralph kicks tomorrow--there is no highest bidder. Mrs. Ralph becomes the owner of the team. A buyer may be months, if not longer, away (Kelly and his friends don't have a billion dollars). She WILL own the team. There is no "out" until she sells. It is part of his estate--it will go to a beneficiary. My plan allows her to sell it in parcels. If there are local parties intersted, this is the only way any Buffalonian will be able to finance it. She doesn't have to do anything as far as running the team or representing the team as an owner. Any of the others could do this. She would be reduced to an investor, with a tidy return each year. The buyers get a full stadium every game. We get a chance the chance to have an ownership interested in fielding a respectable football team. His daughter Christy Wilson Hofmann is inheriting the team, not Mary Wilson. It's been well known for years that Ralph has willed the team to his daughters, and with the death of Linda Bogdan, that makes Christy Wilson Hofmann the sole owner and subject to estate taxes.
Alphadawg7 Posted October 16, 2009 Posted October 16, 2009 Ralph' wife inherits the team. As his spouse, she is exempt from federal estate taxes. She then sells fractional shares of the team to whomever wishes to by them (maybe even Kelly's mysterious gang of high rollers will come out of the shadows). This way, each "owner" has a relatively low debt to service, Ms. Ralph pays taxes only on the fraction that she sells--and makes a mint---and the coterie of local buyers will assure the team stays in Buffalo. They can all split the 20-30 million a year Ralph takes from the team. Isn't this what Miami is doing? No disrespect, but why do posters on here keep posting ways the Bills will move or how they can be saved as if anyone on here actually has any say, input, or influence on the outcome of where the Bills stay or go? Truth of the matter is Bills and the group in LA have had talks, just as the group has had talks with other franchises...Ralph is either going to move the team or not...no suggestion or idea posted here will have any affect on that, all you can do is cross your fingers and hope one way or the other. Me personally, I would love to see the Bills in LA as I live in LA, but I am fully aware that is not the popular choice...
stuckincincy Posted October 16, 2009 Posted October 16, 2009 His daughter Christy Wilson Hofmann is inheriting the team, not Mary Wilson. It's been well known for years that Ralph has willed the team to his daughters, and with the death of Linda Bogdan, that makes Christy Wilson Hofmann the sole owner and subject to estate taxes. Or a trust...might be that Ralph knows how to perpetuate wealth just as well as the Kennedys or the Heinzs' or the Sandlers...
No QB - No Bueno Posted October 16, 2009 Posted October 16, 2009 Me personally, I would love to see the Bills in LA as I live in LA, but I am fully aware that is not the popular choice... Ostensibly we root for the Bills due to our allegiance to the area (for those born to the environs or descended from those born to the environs), or maybe as a result of fantastic runs of special teams from the early nineties or the mid-60's. I know there are those who just come to root for a team because of some inexplicable allure or impulse. For you I ask: What would be the point rooting for the Bills if they were to land in LA, detached from all their history and regional significance? If LA were to land an existing franchise other than the Bills, or gets an expansion team, does that become the primary team you root for and so jettison your support of the Bills?
buffalobillsfootball Posted October 16, 2009 Posted October 16, 2009 Truth of the matter is Bills and the group in LA have had talks Link?
Thoner7 Posted October 17, 2009 Posted October 17, 2009 WEO, What kind of narcotic are you imbibing? Ralph stated that his wife will not take control of HIS franchise when he passes. The team is going to be sold to the highest bidder. It is clearly stated in his will. End of the story. Ralph has no interest or concern over where the franchise ultimately ends up. His desire is very simple: sold to the HIGHEST bidder. Your fantasy scenario is what it is: a fantasy. As you indicated there are legal maneuvers to ensure that the team stays in western NY. The baron owner is not interested in creative strategies that outsiders can manufacture. He is not turning over the franchise to his wife. It is going to be auctioned off to the highest bidder. Ralph is Ralph. If you don't know that by now you are very naive. According to law, Ralph cannot keep the team from his wife, without a prenup. given Ralphs age, I assume he does not have a prenup. Therefore he cannot will the team away from her, she is going to get a min of 50% of everything he owns. The other 50% he could will to others... Thats just the law.
davefan66 Posted October 17, 2009 Posted October 17, 2009 Don't want to be a downer at all, but no way the Bills stay in Buffalo. Maybe short term, 2-3 years, but not any longer. Financially it makes no sense for a new owner to stay here. It's called return on investment. He pays $750 million to Ms. Ralph and needs to sell luxury suites and tix to pay for it, and not at current prices. Although, I wonder if people would pay twice as much, or more, for tix if they stayed? Unless Kelly & Co. really do have a group, the Bills are as good as gone. Enjoy them while they are here, DJ, TE and the rest of this sorry bunch.
davefan66 Posted October 17, 2009 Posted October 17, 2009 According to law, Ralph cannot keep the team from his wife, without a prenup. given Ralphs age, I assume he does not have a prenup. Therefore he cannot will the team away from her, she is going to get a min of 50% of everything he owns. The other 50% he could will to others... Thats just the law. Right, she gets assets of his. Now can he will the team to be sold and those are the assets she gets? Who knows. Just seems like he his trying to save her the trouble.
JohnC Posted October 17, 2009 Posted October 17, 2009 So, you have read his will? Where can I read it, maybe he is leaving me a few scraps. Larry Felser is a retired reporter and now sometime commentator for the Buffalo News. He has known Ralph Wilson for more than a half centure. It was Felser who made the case to get Ralph inducted into the HOF. The below quote comes from one of his writings in the Buffalo News. You can do your own google search to see that the clause sold to the "highest bidder" is in his will. There have been numerous reportings of Wilson's intention to auction off the team when he passes. In addition, he has made many statements on what he wants to do with his team when he passes i.e. sold to the highest bidder. "Bills’ fans have been in mortal fear of losing their team of the last half century to, in the words of owner Ralph Wilson’s last will and testament, “the highest bidder.” That fear, however, didn’t send them dashing up the Queen Elizabeth Way to attend the most overpriced game in the history of football. Bills’ fans are incredibly loyal but they aren’t completely cuckoo."
JohnC Posted October 17, 2009 Posted October 17, 2009 What am I imbibing??? Kilos of real my friend! You are all missing the point. If Ralph kicks tomorrow--there is no highest bidder. Mrs. Ralph becomes the owner of the team. A buyer may be months, if not longer, away (Kelly and his friends don't have a billion dollars). She WILL own the team. There is no "out" until she sells. It is part of his estate--it will go to a beneficiary. My plan allows her to sell it in parcels. If there are local parties intersted, this is the only way any Buffalonian will be able to finance it. She doesn't have to do anything as far as running the team or representing the team as an owner. Any of the others could do this. She would be reduced to an investor, with a tidy return each year. The buyers get a full stadium every game. We get a chance the chance to have an ownership interested in fielding a respectable football team. WEO, You got it wrong. The will clearly states that the franchise goes on the auction block. Certainly, there is a period of time before the franchise is sold but the executor of the estate is obligated to abide by the terms of the will. Ralph has made it clear that the team will NOT go to his wife. Don't you think that Ralph made provisions, before he even married her, on how his estate will be handled. This isn't Ralph's first wife. She is much younger than he is. As you wishfully stated there is a way for her to take over the estate and assume ownership of the franchise. Of course under that scenario she wouldn't have to run the operation. But that isn't what the present Baron Owner wants. He doesn't want her to own it. He has stated that. What he wants is to auction off the team to the highest bidder and the proceeds will go to the estate where his wife and daughter and probably some charities will share. The only reality is what Ralph wants to happen after he passes. It doesn't matter what others think. He has structured his will the way he wants to structure it. Some people may get very frustrated and fearful that the team might be moved. His response would be tough. The team is going to the highest bidder. If a local group bids the highest then it stays. If a Toronto or outside group presents the highest bid then the team is most likely to be moved.
Arkady Renko Posted October 17, 2009 Posted October 17, 2009 According to law, Ralph cannot keep the team from his wife, without a prenup. given Ralphs age, I assume he does not have a prenup. Therefore he cannot will the team away from her, she is going to get a min of 50% of everything he owns. The other 50% he could will to others... Thats just the law. The spousal elective share in Florida is apparently 30%, not 50%. I think it is 1/3 most places.
Mr. WEO Posted October 17, 2009 Author Posted October 17, 2009 I have not seen his will, as more than one of you has intimated that you have. Anyway, perhaps you're right--Ralph doesn't want to keep the team in Buff after he dies and has clearly stated his "I don't really give a sh**t what happens to the team after I die" attitude. He's pathetic. It is bizarre, to say the least. If he DID care, my suggestion would be the best for all involved--his wife, the new owners and the fans. Guess it is just wishful thinking......
JohnC Posted October 17, 2009 Posted October 17, 2009 According to law, Ralph cannot keep the team from his wife, without a prenup. given Ralphs age, I assume he does not have a prenup. Therefore he cannot will the team away from her, she is going to get a min of 50% of everything he owns. The other 50% he could will to others... Thats just the law. She will get her portion of the proceeds from the sale of the franchise. I'm sure she would be very satisfied with that. Ralph's wife is nearly 30 yrs younger than he is. I wouldn't be surprised if there was a prenuptial agreement. But I just don't know. The owner has made it very clear in his will and even publicly what he wants done with his franchise when he passes. You should be very confident that his self selected executor of his estate will enforce his wishes. When it comes to money Mr. W will make sure everything is in order before he crosses the absolute final finish line.
JohnC Posted October 17, 2009 Posted October 17, 2009 I have not seen his will, as more than one of you has intimated that you have. Anyway, perhaps you're right--Ralph doesn't want to keep the team in Buff after he dies and has clearly stated his "I don't really give a sh**t what happens to the team after I die" attitude. He's pathetic. It is bizarre, to say the least. If he DID care, my suggestion would be the best for all involved--his wife, the new owners and the fans. Guess it is just wishful thinking...... WEO, Did you just come to the conclusion that it is bizaare that the owner of a team he has possessed for half a century and has been supported by the fans and local authorities with their financial support resulting in him being enriched beyond imagination doesn't care what happens to the team after he passes? There is no surprise, at least by me. Ralph is Ralph. He doesn't care what you or anyone else thinks. He is going to do what he wants to do. He has stated what he is going to do. It is as simple as that. Whether the team stays in Buffalo or moves to Toronto, LA, Flint Michigan, Scranton, Toledo, Tuscalosa, Tuppelo, Dover, New Haven or wherever is not a concern to the Baron owner. His only concern in life and death is that the franchise is sold to the highest bidder. I'm surprised by your naivete. I thought you were more wordly than that.
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