OT: Bills new stadium public funding

[50-yard-line]

Bob Kraft showed the world how a stadium should be built.

A stadium isn’t a great investment for a taxpayer, but it sure is for the owners of the team.

Flew out right over SoFi stadium last week. The place is gorgeous inside and out. Amazing.

$5 billion to build. 100% PRIVATELY financed.

 

[50-yard-line]

I think the idea that the death of the dollar is only due to Biden tells us all that we need to know about your depth of knowledge in this area.

Well, a big part of current inflation happened in the Spring of 2020 when President Biden threatened to cut military aid to the Saudis if they didn’t reduce their oil output.

I mean, duhhhhhh.

 

[TommyD4207]

Well, a big part of current inflation happened in the Spring of 2020 when President Biden threatened to cut military aid to the Saudis if they didn’t reduce their oil output.

I mean, duhhhhhh.

Biden wasn't president in Spring of 2020.

 

[50-yard-line]

Biden wasn't president in Spring of 2020.

No kidding. That’s my point.

 

[GreenCow]

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.

Lol WHAT?

The Bills don’t lose money. They profit on average around $50-80 million per year.

I think last year and Covid was the first time they went slightly under because they built that insane training complex and put $150 million in escrow for Allen.

2021: -18 (they built a massive complex and $150 mill to Allen)
2020: Covid
2019: 73 million profit
2018: 82 million profit
2017: 67 million profit
2016: 53 million profit.

Where in the world did you get that they lose money!?!?

 

[The Brandon Five]

Look, the bottom line is this: You are using the low end of every estimate imaginable to make your point. Realistically, we know the salary cap will continue to go up significantly with all the new revenues the NFL is bringing in. Realistically, we can reasonably assume the life of the stadium will actually be longer than 30 years. When you factor all that in, it is very easy to see how the state did not make a bad deal with this funding plan.

It wasn't my estimate. I used what was being thrown about in this thread. Give us your estimate.

 

[XLIX]

It wasn't my estimate. I used what was being thrown about in this thread. Give us your estimate.

My estimate of what? I have given a lot of estimates in this thread, so I am not sure what you are asking for which I have not yet provided.

 

[The Brandon Five]

My estimate of what? I have given a lot of estimates in this thread, so I am not sure what you are asking for which I have not yet provided.

You said that my estimate was "low", so that kind of implies you know what it is for. The estimate of tax revenues the state can expect as return for their investment in this boondoggle.

 

[XLIX]

You said that my estimate was "low", so that kind of implies you know what it is for. The estimate of tax revenues the state can expect as return for their investment in this boondoggle.

It is established that the current annual tax revenues are ~$25 million, the vast majority of which comes from the actual income taxes paid by Buffalo Bills employees. The salary cap has been increasing by about 5.5% per year for the past 10 years and shows no signs of slowing down, but I will conservatively estimate an increase of 3% annually in tax revenue. I will also estimate a 3% annual cost of living increase (the current number may be a bit higher than that but remember, Joe Biden won't be President forever). So basically the annual revenue increases balance out with inflationary adjustments.

So over the 30 year lease of the stadium, that's $750 million in present-day dollars they will bring in. And realistically, the stadium will last longer than the 30 year lease. One can easily predict a 40 year lifespan, so now we are talking about $1 billion in present-day dollars over the life of the facility.

So the bottom line is this: In certain cases, the state can recover significant sums of their investment that they would otherwise not have. It is not always the boondoggle some make it out to be.

 

[The Brandon Five]

It is established that the current annual tax revenues are ~$25 million, the vast majority of which comes from the actual income taxes paid by Buffalo Bills employees. The salary cap has been increasing by about 5.5% per year for the past 10 years and shows no signs of slowing down, but I will conservatively estimate an increase of 3% annually in tax revenue. I will also estimate a 3% annual cost of living increase (the current number may be a bit higher than that but remember, Joe Biden won't be President forever). So basically the annual revenue increases balance out with inflationary adjustments.

So over the 30 year lease of the stadium, that's $750 million in present-day dollars they will bring in. And realistically, the stadium will last longer than the 30 year lease. One can easily predict a 40 year lifespan, so now we are talking about $1 billion in present-day dollars over the life of the facility.

So the bottom line is this: In certain cases, the state can recover significant sums of their investment that they would otherwise not have. It is not always the boondoggle some make it out to be.

750 million that you collect over 30 years does not have a present value of 750 million. That was my entire point.

 

[XLIX]

750 million that you collect over 30 years does not have a present value of 750 million. That was my entire point.

I don't think you read my post. Try again.

 

[Zuma]

 

[Zuma]

But you're getting a new stadium...

Officials in Buffalo, New York, face questions about storm planning and response as harrowing accounts emerge of death and survival | CNN

As authorities in Buffalo, New York, continue following up on some of the hundreds of calls for help made during and since the historic weekend blizzard -- a "grueling, gruesome task" that's revealed people dead in cars and snowbanks -- officials are facing tough questions about their handling...

www.cnn.com

 

[Trolltolls]

Bills should move to Austin for the big bucks

 

[Tunescribe]

But you're getting a new stadium...

Officials in Buffalo, New York, face questions about storm planning and response as harrowing accounts emerge of death and survival | CNN

As authorities in Buffalo, New York, continue following up on some of the hundreds of calls for help made during and since the historic weekend blizzard -- a "grueling, gruesome task" that's revealed people dead in cars and snowbanks -- officials are facing tough questions about their handling...

www.cnn.com

Geez, they had a six-day driving ban. That's amazing. I wonder how many ambulance calls went unanswered because of that.

 

[Bill Lee]

Geez, they had a six-day driving ban. That's amazing. I wonder how many ambulance calls went unanswered because of that.

I wonder how many babies are gonna be born in Buffalo nine months from now...

 

[Tunescribe]

I wonder how many babies are gonna be born in Buffalo nine months from now...

"Congratulations, Mr. Bills Fan. You are the proud father of a bouncing baby ... bildo!" *

In Buffalo instead of baptism, christening or bris, they throw the infant through a folding table.

* Interesting. The auto-censor here changes d-ildo to bildo.

 

[Bill Lee]

"Congratulations, Mr. Bills Fan. You are the proud father of a bouncing baby ... bildo!" *

In Buffalo instead of baptism, christening or bris, they throw the infant through a folding table.

Of course!

* Interesting. The auto-censor here changes d-ildo to bildo.

That @Ian thinks of everything!