re: Saban $20 mill in hole due to bad real estate investments w LSU and Bama alums

Last year or the year before an apartment complex in Houston went into Bankruptcy. Spinosa (the same person that developed Perkins Row was the promoter on the complex,) Saban was a partner personally liable on the debt. I think he guaranteed part of the bank note. It was $10 million. (you can check the Bankruptcy records in Houston). However the bank never took any action against Saban.

FYI a Bankruptcy of a partnership does not stop the creditors from suing or collecting from the partners or anyone who guaranteed the debt,

At the time there was talk of Saban going to Texas and speculation Texas boosters had bought the note to keep Saban from having to pay.

Maybe the deal was cut then.

Think about this for awhile. Mack at that time was going to be President of the College Football Coaches Association this year. To be President you have to be an active coach. This maybe why Texas allowed him to stay on even if the deal was cut with Saban. Being President of the Association is an honor and I doubt Texas would deny Mack this honor. There can only be what maybe 20 living past presidents at anytime

If you remember LSU did the same with Coach McClendon. LSU let him stay one more year because he was going to be President of the Association. The only difference they announced what was going to happen and why.