OT: Bills new stadium public funding

[Ring 6]

birth control so i dont get your momma prego

As always you have nothing.
You are up to about 30 posts and still
at zero legitimate examples.

 

[Pape]

As always you have nothing.
You are up to about 30 posts and still
at zero legitimate examples.

go google it. you like to do that and then pretend you know everything

 

[Ring 6]

go google it. you like to do that and then pretend you know everything

Sorry bud, I’m the one who has been right about every point because I understand it. Perhaps you should google or buy a book about income tax rules so you can stop being wrong and repeating the same ignorance.
Still waiting for one example of the “many” things you keep referring to that you have failed to give a single example of.

 

[patman52]

Those were Erie Co taxpayers not state taxpayers. The state has been earning many millions annually from the Bills without ever paying a dollar for it. I posted the independent analysis a while ago that shows what the state makes from taxes. Regardless the NFL is a lot more profitable than baseball. 100 times a year? Where did you come up with that? 80 times maybe considering double headers. But how many fans? It’s 20k versus 75k. Anyway no football stadium is worth it, but neither are the baseball stadiums. Downstate has not argument here

81 baseball games and 19 concerts. The yankees draw 3 mill fans a year. I dont go to a lot of games anymore, but when the kids were younger I spent much more on Yawkeyway area than I ever did at patriot place. I was pretty sure both the reno in the 90s and 12 years ago was paid by all three, bills, erie and that state.

 

[Nunchucks]

The favorite thing for the rich to do is to take out loans with their holdings as collateral and use that money for expenses and purchases...that way they have less income.

 

[Pape]

Sorry bud, I’m the one who has been right about every point because I understand it. Perhaps you should google or buy a book about income tax rules so you can stop being wrong and repeating the same ignorance.
Still waiting for one example of the “many” things you keep referring to that you have failed to give a single example of.

Lol.

Such hubris.

I have given multiple examples of how one might offset income. You apparently are looking at it like players are hourly employees getting a w2. They aren't.

A simple schedule c with depreciation schedules is a tax strategy. You take advantage of write offs when they become available.

Paying an agent 5%? Write-off. Legal representation for work and contract matters? Write offs. Bonus due dates? Potentially a strategy.

Putting money in an IRA is a tax strategy. People putting money in a Roth is an example of a tax strategy. A 401k is a tax strategy.

Donating money to charity is a tax strategy. Creating a foundation is even bigger one.

Putting money in a trust is a strategy, to though the typical family trust is what's called a defective trust. Use of a complex trust, not a defective trust, is a tax strategy.

Creating a corporation to offset income generated by paying employees instead of just giving money to family and friends is a tax strategy. Investment in businesses and property is a tax strategy, especially if the start up costs are higher than the income generated. That debt is a write off, while the long term investment is protected.

Putting in a home gym is a write off. Paying a position coach, nutritionist, personal chef, workout partners, all legit deductions to lessen the tax hit. Going to Florida to catch passes with teammates? A vacation that's a write-off.

Having your primary residence out of my state? Renting an apartment / buying a house for work? write off.

You are looking at one layer, income earned because it suits your simple minded analysis, and then ignoring everything else potentially related. It's typical of your posts. You ignore what you want because it doesn't suit your myopic viewpoints.

So I don't know what to tell you besides stop being willfully obtuse.

You want specifics for players in buffalo? I can't give them to you because I do not know the state tax code, I do not know the specifics of an athletes contract and terms of employment, nor do I know the specifics of the tax codes in the other states they play. That's why you hire a tax professional. So stop pretending you know what you are talking about, because it's obvious you dont

 

[Ring 6]

Lol.

Such hubris.

I have given multiple examples of how one might offset income. You apparently are looking at it like players are hourly employees getting a w2. They aren't.

A simple schedule c with depreciation schedules is a tax strategy. You take advantage of write offs when they become available.

Putting money in an IRA is a tax strategy. People putting money in a Roth is an example of a tax strategy. A 401k is a tax strategy.

Donating money to charity is a tax strategy. Creating a foundation is even bigger one.

Putting money in a trust is a strategy, to though the typical family trust is what's called a defective trust. Use of a complex trust, not a defective trust, is a tax strategy.

Creating a corporation to offset income generated by paying employees instead of just giving money to family and friends is a tax strategy. Investment in businesses and property is a tax strategy, especially if the start up costs are higher than the income generated. That debt is a write off, while the long term investment is protected.

You are looking at one layer, income earned because it suits your simple minded analysis, and then ignoring everything else potentially related. It's typical of your posts. You ignore what you want because it doesn't suit your myopic viewpoints.

So I don't know what to tell you besides stop being willfully obtuse.

You want specifics for players in buffalo? I can't give them to you because I do not know the state tax code, I do not know the specifics of an athletes contract and terms of employment, nor do I know the specifics of the tax codes in the other states they play. That's why you hire a tax professional. So stop pretending you know what you are talking about, because it's obvious you dont

It’s not “hubris” it’s that you have no clue.

NFL players LITERALLY ARE W2 employees.

Schedule C is a profit or loss statement for a business. Not a tax strategy. In order to depreciate they have to purchase equipment for business use, being an NFL player is not a business. It appears your argument here is they should start a business to buy equipment to depreciate.
So here is his that works. You spend $100,000 TODAY and you depreciate the asset over time. So maybe you deduct $5000 a year. How is that an advantage? Are you so obtuse that you think spending money for no purpose other than to not pay tax on it is good? Wh
“you take advantages of write offs when they become available”. What does that even mean? Name an example of a write off? Please after saying this 100 times acknowledge that to “write something off” you have to soend the money. Your entire approach is that spending money to save less than half of it in tax is somehow an advantage.

Everyone can contribute to retirement accounts. Every nfl player makes too much to deduct the 7000 they can put into an IRA.

Giving money to a charity Is not a tax strategy. Giving away 100k to save 50k on taxes puts you 50k in the hole. Creating a foundation does absolutely nothing for your personal tax liability. Nothing at all.

Creating a company that loses money surely reduces your tax bill. But why would anyone purposely lose money to save half of it in taxes.
If you open a business and it loses 100,000 that 100,000 cash out of you pocket. Are you seriously telling me that’s a smart move? Give away 100,000 to not pay tax on it? You should go to your boss today and tell him ti cut your pay 20,000 so you can pay less taxes. Then you have the “tax advantage” you think these hair brained ideas create.

I am not ignoring anything. I am saying that there are not ways for players to SENSIBLY reduce the tax they pay on their nfl pay with tax manipulations beyond what every normal person does. I asked you for examples. You gave 2 categories.
1) what every normal person does
2) stupid ideas to lose or give away money with a goal of reducing your taxes by about half the amount you gave lose. Essentially the equivalent of asking for a pay cut.

You last paragraph finally hits the nail in the head. YOU DO NOT KNOW. You have known this all along but are incapable of admitting that. You have heard somewhere “rich people get write offs”. You cannot name any ti back it up. You file a tax return every year under the exact same rules as every other American. Yet you cling to this belief that there is some mysterious thing “rich people” can do.
That’s not the case. There are specific items that are deductible. It’s the sand for everyone. The fact that you have resorted to the idea that “tax planning” involves scheming to lose money so that you give away part of your income voluntarily in order to reduce the tax you pay on it proves you are just dumb.

The point of reducing your taxes would be to have more money left at the end. You have wasted everyone’s time asserting that smart financial planning is to loses money so you can not pay tax on it. If you got a 10,000 raise tomorrow, your logic says you should turn it down so you sing have to pay tax on it.

So we are down to every idea you have given are either what everyone typically does, or something stupid that no one would do. Bravo for wasting so much of your time before finally writing that last paragraph and admitting you do not know what you are taking about.

 

[Pape]

It’s not “hubris” it’s that you have no clue.

NFL players LITERALLY ARE W2 employees.

Schedule C is a profit or loss statement for a business. Not a tax strategy. In order to depreciate they have to purchase equipment for business use, being an NFL player is not a business. It appears your argument here is they should start a business to buy equipment to depreciate.
So here is his that works. You spend $100,000 TODAY and you depreciate the asset over time. So maybe you deduct $5000 a year. How is that an advantage? Are you so obtuse that you think spending money for no purpose other than to not pay tax on it is good? Wh
“you take advantages of write offs when they become available”. What does that even mean? Name an example of a write off? Please after saying this 100 times acknowledge that to “write something off” you have to soend the money. Your entire approach is that spending money to save less than half of it in tax is somehow an advantage.

Everyone can contribute to retirement accounts. Every nfl player makes too much to deduct the 7000 they can put into an IRA.

Giving money to a charity Is not a tax strategy. Giving away 100k to save 50k on taxes puts you 50k in the hole. Creating a foundation does absolutely nothing for your personal tax liability. Nothing at all.

Creating a company that loses money surely reduces your tax bill. But why would anyone purposely lose money to save half of it in taxes.
If you open a business and it loses 100,000 that 100,000 cash out of you pocket. Are you seriously telling me that’s a smart move? Give away 100,000 to not pay tax on it? You should go to your boss today and tell him ti cut your pay 20,000 so you can pay less taxes. Then you have the “tax advantage” you think these hair brained ideas create.

I am not ignoring anything. I am saying that there are not ways for players to SENSIBLY reduce the tax they pay on their nfl pay with tax manipulations beyond what every normal person does. I asked you for examples. You gave 2 categories.
1) what every normal person does
2) stupid ideas to lose or give away money with a goal of reducing your taxes by about half the amount you gave lose. Essentially the equivalent of asking for a pay cut.

You last paragraph finally hits the nail in the head. YOU DO NOT KNOW. You have known this all along but are incapable of admitting that. You have heard somewhere “rich people get write offs”. You cannot name any ti back it up. You file a tax return every year under the exact same rules as every other American. Yet you cling to this belief that there is some mysterious thing “rich people” can do.
That’s not the case. There are specific items that are deductible. It’s the sand for everyone. The fact that you have resorted to the idea that “tax planning” involves scheming to lose money so that you give away part of your income voluntarily in order to reduce the tax you pay on it proves you are just dumb.

The point of reducing your taxes would be to have more money left at the end. You have wasted everyone’s time asserting that smart financial planning is to loses money so you can not pay tax on it. If you got a 10,000 raise tomorrow, your logic says you should turn it down so you sing have to pay tax on it.

So we are down to every idea you have given are either what everyone typically does, or something stupid that no one would do. Bravo for wasting so much of your time before finally writing that last paragraph and admitting you do not know what you are taking about.

You don't know but you pretend that you do. That's the definition of hubris.

The point of reducing your taxes is so you don't pay the government as much. It's better to spend it than it is to give it away.

And my last paragraph is the truth. I don't know because I am not a professional athlete. But the difference between you and me is I will admit it. Yet you try to speak with authority on the topic like everything else. You are, quite literally a walking talking dunning-kruger effect.

Which is a direct reference to you not being an honest person. Basically I find you full of **** because you pretend to know everything, yet speak with only a casual tone that belies the import of the topic.

You fail to get the point, as well. You raise 10000? Why on earth would you turn it down? That is the exact opposite of what I am saying. You invest it. You put it to work for you. And in doing so, you can use it to your advantage come tax time.

I mean really, if you are going to profess that you are an authority on the matter at hand, at least think it through. This is basic economics. It's not scheming. Everything I have said is above board and legal. That's why it's called a strategy.

Jfc, this is simple stuff... I shouldn't have to explain it... But you are definitely being you... Never give an inch even when it's obvious the entire conversation has eluded your ability to comprehend it.

 

[upstater1]

The Bills are the least valuable team in the NFL and lose miney every year, while for comparison the patriots are the 2nd most valuable and have an operating income of over $140M per year.

Apparently, the attitude of many here is that because the owners of the Bills are rich from other endeavors, they should just suck it up and fund a stadium in a city where they lose money every year. That makes no sense to me. The team is an economic loser in Buffalo. Of course, the team should investigate other cities and other markets.
=========
CONSIDER
that the owners might have investigated and were considering moving to San Antonio or Toronto or even St Louis.

Of course, the people of the Buffalo area want the team to stay. Perhaps the team should have been sold to the fans, so the fans could own the team as in Green Bay (let the fans lose the money). OR, perhaps the owner should be allowed to operate a business with the goal of making money and increasing value. The NFL is a business. The teams have every right to make money, as do the players. The vast majority of the revenue comes from media.

The State of NY is offering a considerable amount of money for the owners to stay. Personally, I'm not sure that the owners are making the best business decision (I suspect they would be better off in San Antonio). But, I have little doubt that the fans in Western New York are very happy that the team is staying.
==========
JUST BTW,
a small amount of revenue comes from tickets sales and concessions. The gross amount is less than 20%. The profits, of course, are much less.

The Bills are hugely profitable for the Pegulas.

In 7 years, they've made $300m in profits on their initial $1.4b investment. The franchise is now worth $2.4b and will likely increase even more with the new media deals AND the new stadium. Their $300m investment in the stadium will probably double overnight (i.e the franchise value will increase to $3b after the stadium is built).

By the time it's built, the Pegulas will have had a $1.3b increase on their investment and made $500m in profits.

Granted, much of their profit is due to revenue sharing and the media deals, but it's still a profit.

$1.8b total in gains isn't chump change

 

[upstater1]

At SB42, I was told by a Canadian sportswriter covering the NFL that the Bills to Toronto was a done deal.

Then the 2008 great recession struck.

Toronto had plans to build a spanking new NFL venue with luxury suites galore. Evidently, Toronto has a vibrant business environment with plenty of corporations ready to purchase luxury suites. Obviously, the NFL loved this move seizing at the opportunity to get a foot in the door of the Canadian market, but also for the new money. Bills tickets were some of the cheapest you can find. Stadiums in Buffalo and Jacksonville are underperformers bringing in NFL revenue. Ive never been to Ralph Wilson but have heard its a real dump. The Jags stadium is no prize either.

BTW, the Chiefs want a new stadium and are threatening to move across state lines. The KC Royals are in the midst of moving downtown. If youve never been to either facility, but wanted to go, now would be a good time to make plans.

Both stadiums are old, but also very nice. Tailgating space galore which is half the fun IMO.

The Bills stadium is fine, not a dump at all. I generally question what people really want in a gameday experience.

I go, watch the game, leave. What else am I looking for? Sushi?

 

[upstater1]

81 baseball games and 19 concerts. The yankees draw 3 mill fans a year. I dont go to a lot of games anymore, but when the kids were younger I spent much more on Yawkeyway area than I ever did at patriot place. I was pretty sure both the reno in the 90s and 12 years ago was paid by all three, bills, erie and that state.

Any economic analysis of stadiums will tell you they are all losers because the vast majority of the money is local. Doesn't matter how many fans they get.

In any analysis, the net plus is only the income tax and profits tax. That's it.

In this respect, the Bills are absolutely no different than the Mets and Yankees, except for the fact that the NFL teams make a lot more money on their media deals.

And, of course, the fact that NYC has 2 subsidized stadiums while this will be the first new build for the rest of the state.

 

[upstater1]

If people were really interested in denting these threats from the billionaire owners, two very simple things could be done in tax law to even the field.

1. Eliminate the corporate tax write offs for entertainment. In just a few months time, my brother has gone to several big sports events for his company for free, all very cushy. Get rid of the write-offs.

2. Eliminate the step-up in basis. It's absurd that it even exists. You'd then see these billionaires circulating money back into the economy so that the government wouldn't have to do it repeatedly.

 

[Ring 6]

You don't know but you pretend that you do. That's the definition of hubris.

The point of reducing your taxes is so you don't pay the government as much. It's better to spend it than it is to give it away.

And my last paragraph is the truth. I don't know because I am not a professional athlete. But the difference between you and me is I will admit it. Yet you try to speak with authority on the topic like everything else. You are, quite literally a walking talking dunning-kruger effect.

Which is a direct reference to you not being an honest person. Basically I find you full of **** because you pretend to know everything, yet speak with only a casual tone that belies the import of the topic.

You fail to get the point, as well. You raise 10000? Why on earth would you turn it down? That is the exact opposite of what I am saying. You invest it. You put it to work for you. And in doing so, you can use it to your advantage come tax time.

I mean really, if you are going to profess that you are an authority on the matter at hand, at least think it through. This is basic economics. It's not scheming. Everything I have said is above board and legal. That's why it's called a strategy.

Jfc, this is simple stuff... I shouldn't have to explain it... But you are definitely being you... Never give an inch even when it's obvious the entire conversation has eluded your ability to comprehend it.

It’s sad that you are so ignorant you see knowledge as hubris.

No, you do not waste money so the government doesn’t get half of it, that is beyond stupid.

Of course it’s the truth, you have proven you don’t know. You made a claim that was wrong. You tried to back it up with “lots of ways” and have failed to mention a single one.

See here is a perfect example. You are aghast at the idea of turning when a raise while trumpeting the genius if throwing away money to avoid paying taxes on it. It’s the same thing.

I didn’t profess to be an authority on anything. I stated the real fact that there are not sensible ways to manipulate the tax system to avoid paying taxes on your employment income. That is an incontrovertible fact. You disagreed. I asked for examples. Everyone you gave was crap. So I showed you why it was crap. The fact that you thinks this means I profess to be an authority only shows that you know you are wrong, feel demeaned by me proving you are wrong, and lash out with insults at me. Don’t shot the messenger pal. Your understanding of this topic is about 2 on a scale of 1 to 10, and that’s being generous because people who say they have no clue are way ahead of your wrong beliefs.


You do have to explain it because you are wrong. You can’t say “take write offs when they are available” in response to what can you write off? You can’t suggest that the way that someone would avoid taxes is to create a financial loss for the sole purpose of an income deduction in order to cut their tax burden by less than half of what they lost and not be called out for stupidity.

All these pages and you cannot come up with a single reasonable way to explain your belief that New York won’t collect the appropriate amount of taxes from the Bills players payroll because “manipulation of taxes” and you have now defaulted to you know they can but you don’t know how or why because you aren’t a football player.
All you have proven is you know you are wrong and cannot admit it.

 

[Ring 6]

If people were really interested in denting these threats from the billionaire owners, two very simple things could be done in tax law to even the field.

1. Eliminate the corporate tax write offs for entertainment. In just a few months time, my brother has gone to several big sports events for his company for free, all very cushy. Get rid of the write-offs.

2. Eliminate the step-up in basis. It's absurd that it even exists. You'd then see these billionaires circulating money back into the economy so that the government wouldn't have to do it repeatedly.

1) why is that not legitimate? It is an expense of doing business. It’s no less legitimate than office supplies, marketing materials or commissions pays to salesman. Why would we expect a corporation to incur an expense in selling their product and still include that as profit?
2) this doesn’t make sense. Why would eliminating the step up and increasing the capital gains tax put more money in the economy? It would discourage selling off the assets. I’m not sure I understand the logic of asking me to pay capital gains based upon appreciation that happened prior to my owning the asset.

 

[XLIX]

If people were really interested in denting these threats from the billionaire owners, two very simple things could be done in tax law to even the field.

1. Eliminate the corporate tax write offs for entertainment. In just a few months time, my brother has gone to several big sports events for his company for free, all very cushy. Get rid of the write-offs.

 

[borg]

If people were really interested in denting these threats from the billionaire owners, two very simple things could be done in tax law to even the field.

1. Eliminate the corporate tax write offs for entertainment. In just a few months time, my brother has gone to several big sports events for his company for free, all very cushy. Get rid of the write-offs.

The tax deduction for event tickets/luxury suites was eliminated in 2018 but food and beverage expenses incurred within the suite/at the event are 50% deductible as long these items are billed separately from the cost of the ticket/suite.

Entertainment expenses are still not deductible. This includes things like sports tickets, luxury suites at sporting events, concert tickets, golf, or nightclubs. These used to be 50% deductible if they were “directly related” to the active conduct of business or if a bona fide business discussion took place immediately before, after, or during the entertainment. They are no longer deductible at all.

If a company rents a luxury suite at a baseball game, invites customers and business contacts, and discusses business during the event, would the food served during the game still be deductible? The answer is yes (50%), as long as the food is paid for separately. That means the cost of the food must be detailed on the invoice or be billed separately. If the food is simply included in the ticket price, it is not deductible.

Business Meals May Still Be Deductible - Alloy Silverstein

Note: Have questions when it comes to tax reform’s new deduction rules? Our upcoming Alloy Academy “I Can Deduct That, Right?” will go over what is and is no longer deductible with the Tax Cuts...

alloysilverstein.com

https://www.usnews.com/opinion/economic-intelligence/articles/2018-02-20/new-tax-law-is-a-curveball-for-the-sports-industry

Expect New Tax Code to Stimulate Growth in Secondary Market for Luxury Suites

The recent Tax Cuts and Jobs Act passed Congress will have a significant impact on the secondary market for luxury suites at sports and entertainment events.

www.suiteexperiencegroup.com

 

[Pape]

It’s sad that you are so ignorant you see knowledge as hubris.



I didn’t profess to be an authority on anything.

Haha everything I said is 100% accurate.

Sorry bud, I’m the one who has been right about every point because I understand it

LOL.

care to continue?

It’s not “hubris” it’s that you have no clue.

NFL players LITERALLY ARE W2 employees.

Schedule C is a profit or loss statement for a business. Not a tax strategy. In order to depreciate they have to purchase equipment for business use, being an NFL player is not a business. It appears your argument here is they should start a business to buy equipment to depreciate.
So here is his that works. You spend $100,000 TODAY and you depreciate the asset over time. So maybe you deduct $5000 a year. How is that an advantage? Are you so obtuse that you think spending money for no purpose other than to not pay tax on it is good? Wh
“you take advantages of write offs when they become available”. What does that even mean? Name an example of a write off? Please after saying this 100 times acknowledge that to “write something off” you have to soend the money. Your entire approach is that spending money to save less than half of it in tax is somehow an advantage.

Everyone can contribute to retirement accounts. Every nfl player makes too much to deduct the 7000 they can put into an IRA.

Giving money to a charity Is not a tax strategy. Giving away 100k to save 50k on taxes puts you 50k in the hole. Creating a foundation does absolutely nothing for your personal tax liability. Nothing at all.

Creating a company that loses money surely reduces your tax bill. But why would anyone purposely lose money to save half of it in taxes.
If you open a business and it loses 100,000 that 100,000 cash out of you pocket. Are you seriously telling me that’s a smart move? Give away 100,000 to not pay tax on it? You should go to your boss today and tell him ti cut your pay 20,000 so you can pay less taxes. Then you have the “tax advantage” you think these hair brained ideas create.

I am not ignoring anything. I am saying that there are not ways for players to SENSIBLY reduce the tax they pay on their nfl pay with tax manipulations beyond what every normal person does. I asked you for examples. You gave 2 categories.
1) what every normal person does
2) stupid ideas to lose or give away money with a goal of reducing your taxes by about half the amount you gave lose. Essentially the equivalent of asking for a pay cut.

You last paragraph finally hits the nail in the head. YOU DO NOT KNOW. You have known this all along but are incapable of admitting that. You have heard somewhere “rich people get write offs”. You cannot name any ti back it up. You file a tax return every year under the exact same rules as every other American. Yet you cling to this belief that there is some mysterious thing “rich people” can do.
That’s not the case. There are specific items that are deductible. It’s the sand for everyone. The fact that you have resorted to the idea that “tax planning” involves scheming to lose money so that you give away part of your income voluntarily in order to reduce the tax you pay on it proves you are just dumb.

The point of reducing your taxes would be to have more money left at the end. You have wasted everyone’s time asserting that smart financial planning is to loses money so you can not pay tax on it. If you got a 10,000 raise tomorrow, your logic says you should turn it down so you sing have to pay tax on it.

So we are down to every idea you have given are either what everyone typically does, or something stupid that no one would do. Bravo for wasting so much of your time before finally writing that last paragraph and admitting you do not know what you are taking about.

btw, NFL players get a 1099misc for income derived thru licensing deals etc. So its not a basic W2 employment arrangement.

 

[borg]

Wow $600M chipped in from NY state funding. Bills owner who is worth something like 10x that amount couldn’t pay for his own stadium?

I’m sure NYC and Staten Island taxpayers will appreciate the move especially if the team relocates.

NY Gov Hochul is being primaried and her opponent is blasting her because of the stadium deal...

U.S. Rep. Tom Suozzi, a Long Island Democrat also trying to beat Hochul, piled on, saying her pick of Benjamin was part of a pattern of bad choices, which he said included cutting a deal that will give her hometown Buffalo Bills more than $1.1 billion to build and operate a new stadium.

“Hochul has fostered a culture of continued corruption with months of fundraising from pay to play insiders and people doing business with the state, and secretive budget deals that resulted in the billion dollar Bills stadium and little else,” Suozzi tweeted.

 

[The Brandon Five]

So? What does an annuity and future value of money have to do with whether a revenue stream covers the expense.
The government issues bonds to cover the cost. The payments to service those bonds are set in stone. The revenue steam required to pay then is not subject to inflation, that is the payment remains the same. Inflation actually makes the opposite argument of what you are implying.

Google "time value of money"

 

[The Brandon Five]

Now run the present value given the assumption that the $25 million number will increase roughly $1 million per year over the next 30 years, which is a very safe - if conservative - assumption given how the NFL revenues are exploding.

And Biden won't be president forever, so to use 7% a year for the next 30 years period is weaksauce.

Assuming 2.7% growth of the annuity payment per year (55 million at the end of 30 years), we get a PV of $698 million. Still a net loser.