Buffalonill Posted April 20 Report Share Posted April 20 Let's put this as a nothing burger for the 4th straight year 1 Quote Link to comment Share on other sites More sharing options...
#freejame Posted April 20 Report Share Posted April 20 10 hours ago, Captain Caveman said: If they're forced to come up with 2-3 billion dollars on inheriting the team to pay the estate tax? My rough math for worst case scenarios based on purchase price and estimated current value is a tax bill of $920M on a profit of $2.3B. Selling 25% at the same prices nets a tax bill of $550M. The below article details our tax implications for owning sports franchises. I think it’s safe to say nobody needs to feel any sympathy for the Pegula’s tax bills. https://minnesotareformer.com/2021/07/15/the-billionaire-playbook-how-sports-owners-use-their-teams-to-avoid-millions-in-taxes/ 1 1 Quote Link to comment Share on other sites More sharing options...
Captain Caveman Posted April 20 Report Share Posted April 20 (edited) 1 hour ago, #freejame said: My rough math for worst case scenarios based on purchase price and estimated current value is a tax bill of $920M on a profit of $2.3B. Selling 25% at the same prices nets a tax bill of $550M. The below article details our tax implications for owning sports franchises. I think it’s safe to say nobody needs to feel any sympathy for the Pegula’s tax bills. https://minnesotareformer.com/2021/07/15/the-billionaire-playbook-how-sports-owners-use-their-teams-to-avoid-millions-in-taxes/ I'm not saying anyone needs to feel sympathy. I am 100% on board with estate tax (especially for anyone inheriting over let's say a million dollars.) Just explaining that he may be doing this as part of estate planning to help his kids cover the cost of retaining the team(s). Edited April 20 by Captain Caveman 1 Quote Link to comment Share on other sites More sharing options...
Brawndo Posted Wednesday at 09:14 PM Author Report Share Posted Wednesday at 09:14 PM Quote Link to comment Share on other sites More sharing options...
That Aud Smell Posted Wednesday at 09:44 PM Report Share Posted Wednesday at 09:44 PM Thanks for the link. No pay wall, which was great. That's sad, but not surprising, to learn that Kim's been ruled legally incapacitated. Also - I saw that Laura's heavily involved in that JKLM venture - named for Jessica, Kelly, Laura, and Matthew. Is Terry's son Michael (Laura's fully biological sibling) not in the picture at all? I seem to recall him being around when the Pegulas became the owners of the Bills ...? Quote Link to comment Share on other sites More sharing options...
That Aud Smell Posted Wednesday at 09:46 PM Report Share Posted Wednesday at 09:46 PM Or maybe Michael was more around when the Pegulas became owners of the Sabres. Compare with Quote Link to comment Share on other sites More sharing options...
Goldseatsaud Posted Wednesday at 10:25 PM Report Share Posted Wednesday at 10:25 PM I shake my head, Kim had life by the balls sad Quote Link to comment Share on other sites More sharing options...
Buffalo Super Fan Posted yesterday at 02:24 AM Report Share Posted yesterday at 02:24 AM This is one of the saddest things I have witnessed in my lifetime of 50 years of being a Buffalo sports fan. Terry Pegula is out of bounds for myself personally to comment on anymore. I didn’t know how bad Kim Pegula’s health issues were and Buffalo sports is just a game this is real life. God bless Terry Pegula that he even wants to still own the Buffalo Bills and Buffalo Sabres after what he has gone through I had no idea. I want to personally apologize to Terry Pegula from Buffalo Super Fan I was wrong. I feel terrible even though I had no idea God forgive me in my opinion. Go Bills! Go Sabres! Let’s Go Buffalo Quote Link to comment Share on other sites More sharing options...
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