re: Dumbest Saban rumor I've seen yet....

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Johnny4lsu

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Were it not for potential legal repercussions, Spinosa says, he’d love to talk about the Perkins Rowe foreclosure suit that Cleveland-based KeyBank National Association initiated 21 months ago because of the millions it claims he owes on a $170 million loan.

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Many people have had some degree of contact with him or his properties, including former LSU and current Alabama football coach Nick Saban, whose name has surfaced in the Perkins Rowe suit and who also is a 49.5% owner of a Houston apartment complex for which another of Spinosa’s companies has filed for bankruptcy protection. Saban perhaps is the only person who has kept a stricter silence than Spinosa.

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Terry L. Saban of Tuscaloosa, Ala., the wife of Alabama football coach Nick Saban, has purchased nearly two acres of vacant land at Perkins Rowe

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Nick Saban and Perkins Rowe developer Tommy Spinosa have done business together in the past, and were also revealed to be co-owners of Central Facilities LLC, which supplies chilled water to the mixed-use development's air-conditioning system. That connection was revealed when KeyBank National Association of Cleveland began the foreclosure process on Spinosa for unpaid loans in 2010.

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U.S. District Judge James Brady is reviewing multiple motions for summary judgment in Central Facilities Operating Co.'s lawsuit against Texas-based Cinemark involving $434,469.66 in unpaid bills. The company co-owned by Perkins Rowe developer Tommy Spinosa and University of Alabama Coach Nick Saban

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Ohio lender KeyBank National Association has been given the go-ahead to sell the development, appraised at more than $95 million. A foreclosure auction has been rescheduled for May.

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Alabama head football coach Nick Saban has maintained several close friendships and business relationships in Louisiana from his time in the state as LSU's coach. Among those is Lafayette attorney Hank Perret. Perret is currently representing Saban and his interest in the Perkins Rowe development in Baton Rouge, which is facing a $170 million foreclosure lawsuit from KeyBank National Association.

Baton Rouge's Daily Report uncovered that Saban, while not named as a party to the suit, has an undisclosed ownership interest in Central Facilities, a company formed by developer Tommy Spinosa that provides water to Perkins Rowe tenants' air conditioning units. Daily Report cites court documents showing that Saban was deposed in December by KeyBank, which has been struggling to obtain financial records from Central Facilities and Spinosa. Saban reportedly provided some financial records, but redacted key information at the insistence of Spinosa's attorney. Perret, along with attorneys for Spinosa and KeyBank, did not return Daily Report's calls for comment.

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