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December 11, 2014

Ralph Wilson Foundation to Get $1-Billion From Bills Sale

The charitable foundation of the late Buffalo Bills owner Ralph C. Wilson Jr. will receive more than $1-billion from his estate's sale of the NFL team and expects to begin making major grants in 2016, reports The Buffalo News. Buffalo and Detroit, Mr. Wilson's hometown, will be the primary but not exclusive centers of the Ralph C. Wilson Jr. Foundation's spending, the fund's trustees said in a statement Wednesday.

Mr. Wilson died in March, and the Bills were sold in October for $1.4-billion. His foundation had assets of $4.79-million at the end of the 2013 fiscal year, during which it made $1.61-million in grants. The foundation said it will operate a limited "transitional legacy grant program" in 2015 while officials establish a structure and strategic vision for the vastly expanded organization and will "begin its formal long-term grant cycles" the following year.