Don Banks from SI on the Rams

[ScottD413]

Posted today on SI.com

"St. Louis -- Winning with the Rams figures to be difficult for a while yet, mainly because the organization is going through such significant restructuring internally while waiting to be sold. While rookie head coach Steve Spagnuolo begins the process of turning over a rapidly-aging roster in key spots, you've got St. Louis responding to the departure of team president John Shaw and general manager Jay Zygmunt, and the installation of temporary (for now, at least) general manager Billy Devaney. That's a lot of change and uncertainty to overcome. The Rams need to figure out what they still have in quarterback Marc Bulger, who has absorbed a brutal pounding in recent years and no longer resembles the franchise talent of the late Mike Martz era. Spagnuolo likely will concentrate on building a defense that can make the Rams competitive in most games, and then try to ride running back Steven Jackson's talents on offense."


1) Temporary GM Bill Devaney? Did I miss something? Since when is this a temporary thing?


2) Another mention of the team being sold. I know many here are in denial, but here it is again. Face it, the Rams will be sold. Whether they will move or not, who knows? I would speculate that they will stay in St.Louis since the dome is being renovated.

[HUbison]

1) Temporary GM Bill Devaney? Did I miss something?

No sir, you didn't. But Don Banks did.

2) Another mention of the team being sold. I know many here are in denial, but here it is again.

Of course they will be sold, Scott. I don't think anyone is saying otherwise. The tax issues alone pretty much dictate a sales transaction. However, the conclusion that St. Louis Rams sold = the new LA Rams...........that's the one that is a stretch for me.

[AvengerRam]

Banks' note is missing only two things: (1) facts, (2) logic.

Devaney is not a "temporary" anything (well, unless you mean that one day he will die, as all of us will). He is the GM.

Also, why does the potential for a sale equate to a problem improving on the field? The Dolphins were "in play" all of last year, and were sold after the season ended. Nonetheless, they went from 1-15 to the playoffs.

[supachump]

The tax issues alone pretty much dictate a sales transaction.

How so? There are ways to get around such things. Assuming that Chip wants to go that route.


BTW, the author of this article is an idiot.

[HUbison]

How so? There are ways to get around such things. Assuming that Chip wants to go that route.

Short of tax evasion (which is illegal, I wouldn't recommend it), Georgia's estate will owe roughly $225 million in estate tax. There are ways to defer that for a year or two, but avoiding it won't be possible. Unless Georgia's estate has other liquid assets to settle the bill, the Rams will probably have to be sold.

It's a messed up law that dead folks have to pay taxes, but a law nonetheless.

[supachump]

Short of tax evasion (which is illegal, I wouldn't recommend it), Georgia's estate will owe roughly $225 million in estate tax. There are ways to defer that for a year or two, but avoiding it won't be possible. Unless Georgia's estate has other liquid assets to settle the bill, the Rams will probably have to be sold.

It's a messed up law that dead folks have to pay taxes, but a law nonetheless.

I'm not a tax expert. But this seems relatively easy to solve (in theory). Chip finds investor to cover $225 million in estate tax. In return that person gets a piece of the Rams. Or, Chip gets loan to cover $225 using portion of Rams as collateral. I'm not sure what the value of the Rams is at this point, but depending on that number, one of these options is feasible in (again in theory).

I know with this economy, getting loans or finding investors isn't the easiest thing to do. However, there are solutions. And not break the law at the same time.


p.s. I have a feeling Georgia's estate has a lot of money in it- outside of the Rams. I'm just saying that if Chip wants to keep the team, there are legal ways to pay off the estate tax and accomplish that.

[unorthodox1999]

this article is pathetic..

[d4nnystl539]

Overlooking the Big Picture for the Rams
VanRam
Turf Show Times

Over at SI.com Don Banks has a look at the league's 11 new head coaches and their chances to make some gains in the win column next season. What does he have to say about Rams new head coach Steve Spagnuolo? Obviously, Spags has some work to do when it comes to building a playoff contending roster, but he's off when he carries the ownership/front office uncertainty meme too far.
From Banks:

Winning with the Rams figures to be difficult for a while yet, mainly because the organization is going through such significant restructuring internally while waiting to be sold. While rookie head coach Steve Spagnuolo begins the process of turning over a rapidly-aging roster in key spots, you've got St. Louis responding to the departure of team president John Shaw and general manager Jay Zygmunt, and the installation of temporary (for now, at least) general manager Billy Devaney. That's a lot of change and uncertainty to overcome.

First of all, he clearly missed the memo that Devaney has been given the reigns to the football operation. There's no "interim" in Devaney's title; majority owner Chip Rosenbloom laid out the chain of command at Rams Park, and Devaney's role is clear. As we've said around here for a long, long time, clearly defining the roles and responsibilities in the front office and turning those decisions over to true blue football guys was the first step in rebuilding a winning team. That move will do more good under the Dome than all the cash in the world to sign and draft players.
As for the team's "waiting to be sold" status, well, that's a little bit misleading. The reporting team at the Post-Dispatch and the Belleville News Democrat has done a bang up job keeping track of this situation. The Rams are for sale in that they'll listen to offers, but the team isn't actively being shopped. Not that it won't be in the future, but Chip Rosenbloom is operating as though he will continue to own a majority stake in the team for the foreseeable future. It's also worth remembering that with the economy in its current state, buyers aren't exactly lining up, especially those who would need to get credit to buy the team. One more point, the Rams, regardless of owner, aren't moving without incurring major penalties for the next six years. That might change when 2015 rolls around and triggers a clause in their lease on the Ed Jones Dome that allows them to opt out if the stadium isn't among the league's top quartile of facilities.
For the Rams, the change and uncertainty thing has officially been flogged to death.
Now, Banks is right on when it comes to the personnel side of the ledger for new coach Steve Spagnuolo. The Rams do have lots of questions and lots of needs to fill, including whether or not Marc Bulger can get back up to speed. Not even the most optimistic fan is mistaking these Rams as the next incarnation of the '72 Dolphins, but this is a team capable of winning games next year, with the right moves and new, inspired leadership. They had the talent to win 5 or 6 last season, before other factors intervened.
Make no mistake about it, player personnel questions aside, these Rams finally have leadership and direction, and that's the free agent they've been struggling to find for a long time now.

I like how he describes the situation better. Is it bad that I've never heard of Don Banks before? Maybe he should stick to writing about, I don't know, SI's swimsuit models? BTW, anyone check out this year's SI Swimsuit Issue with the new cover model?

[Yodude]

It's possible that the temporary comment is an assumption on Banks' part. If the Rams are indeed for sale, which may or may not be the case (although it seems to be all over the net) then it could be very likely that a new owner will bring in a new GM...it's almost always the case that when a new owner takes control of a team he will bring in his own choice as GM.

[ScottD413]

It's possible that the temporary comment is an assumption on Banks' part. If the Rams are indeed for sale, which may or may not be the case (although it seems to be all over the net) then it could be very likely that a new owner will bring in a new GM...it's almost always the case that when a new owner takes control of a team he will bring in his own choice as GM.

Like YoDude points out, I can only assume (yes I know what happens when you do that) Banks meant that if the Rams are sold Devaney might be replaced.

BTW I don't usually read Banks garbage, I just thought I would post for you guys to debate.

[BrokenWing]

As for the Rams being for sale being all over the net...alot of things are all over the net. Not all of them are true, or even accurate reporting. I suspect strongly that alot of media types are making an assumption on that one.

[mde8352gorams]

Don Banks has shown that he does no research before writing articles and how insipid he is. To base the evaluation of the team on ownership with no on-field analysis is really dumb.

Go Rams!