this might be BS, but I was just on Facebook and read on there how Amazon CO Jeff Bezo /Beso might be a buyer?? anyone hear this.??
Don’t get your news from Facebook, Cub.
I don’t it was on A Lions fan page there and I just asked ….here, I barely ever use Facebook for anything…
I did read about Bezos potentially being interested in becoming an NFL owner. however my thoughts immediately went to the Seattle Seahawks which is where Amazon’s original HQ is and the fact that owner Paul Allen recently passed away so the team is currently part of Paul Allen’s Trust and likely will be for sale as part of that process.
I read a Nigerian prince is planning to buy the club and is looking for investors
I think you are right. But he needs to use an American account to get the money into the US, so he needs your banking info to deposit the cost. For your cooperation, you will be rewarded handsomely.
The capital gains taxes would be 100s of millions alone. This is from an 2015 article:
DETROIT (CBS Detroit) A meme making the rounds on social media has a photo of Martha Ford and her son Bill Ford Jr. watching what’s presumably another losing Lions game with the caption “fire the Fords.”
It’s a popular sentiment.
But it’s one that well-known local financial expert says isn’t going to happen anytime soon — not because the family is so invested in the team, but because of what a sale would do to their investments.
Leon LaBrecque, CEO of LJPR Financial Advisors in Troy, says the family will not sell the team while Martha Ford is alive because if they did it would cost them hundreds of millions of dollars in capital gains taxes.
LaBrecque’s firm includes Ford Motor Co. among its clients, but he says the account has nothing to do with the Ford family or the Lions. He hasn’t discussed this with anyone close to the family or the organization, but here’s how he lays it out. Other local financial experts agreed with his assessment.
“Mrs. Ford shouldn’t sell the Lions for one big, scary reason: TAXES. She and her children would lose hundreds of millions to Uncle Sam. The massive capital gains she would bring in from the sale – potentially $1 billion – would be slaughtered by the capital gains tax,” he writes.
“When she passes, that money would be reduced again by estate tax, leaving her heirs to split less than HALF the value of the team. If she keeps the Lions, upon her passing, her heirs would receive far more.
Breaking it down into real numbers, LaBrecque says this:
“If William Clay Ford’s widow, Martha Firestone Ford, sells the team for $1,006,000,000.00 (that’s fun to write), she would have a $1billion capital gain. Since she’s held the team over one year (like 52 years), that would be a long-term capital gain. Let’s presume she has some other income, maybe social security and few dividends from owning some car company. She’d owe $238,000,000 of capital gains taxes (we think Mrs. Ford is a Florida resident, so say no state income taxes). Her estate would net $768 million. If she then passed away, the estate would pay an additional estate tax of about $307.2 million. The heirs would get $460.8 million, or less than half the value.
If she keeps the Lions; when she passes, the basis of the team ‘steps-up’ to $1.006 billion. The estate pays tax on the full value, or $402.4 million.”
In a nutshell, their best bet is to hang out until Mrs. Ford passes, for purely financial reasons.
I wonder if he’s the same one that’s going to deposit $10 million in my bank account if I promise to take care of his sister?
Good breakdown , thanks for posting ! Man ! I wish all I had to do is worry if I get 400+ million dollars.
Finally something we all can agree on!
Whoomp, there it is.
There’s a lot of “ifs” in that article.
Basically the only reason the Lions are mentioned is because Martha is old.
And none of her children seem to want the team.
As far as we know.
This is not true.
The daughters all took a more active interest in the club as soon as the dad died. Rob Wood is the conduit between the team and the family.
In all the failures of this franchise recently, it’s not due to a lack of interest or want of ownership and the family, it’s the lack of know-how that cripples them.
Didn’t the sisters bump Jr out?
I definitely heard that story as well as the “sisters don’t want the team” storyline as well. It will be interesting.
I remember the Bills owner begged his daughters to take the team and they wanted no part of it.
That’s my last hope, for the team to be sold. Also believe that if it happened, a move (if introduced) would be blocked. Why would you move when you have a built in audience that supports the product fully, no matter what!
We are definitely a captive audience, that’s for sure. But I would have said the same thing about Cleveland, and they ended up moving. And just like Cleveland, I don’t think we’ve got a shot in hell of winning a Super Bowl unless the team moves.
Cleveland did play in the shittiest stadium not called Alameda and a failing audience.