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re: Mack Brown to Resign | The Search For His Replacement
Posted on 12/11/13 at 10:58 pm to footwedge
Posted on 12/11/13 at 10:58 pm to footwedge
quote:
Does saban usually make his in homes to the big recruiting targets this early? If he leaves bama for texas, does he get a whole new round of in home visits with these guys? That would be pretty shrewd.
I would imagine it's the school, not the coach, that has a limit on visits. So if he is using up all of UA's and Mack hasn't used up all of UT's, then he could go back and try to get them for UT and the new UA would be fricked.
1
Posted on 12/11/13 at 10:58 pm to Meno's Paradox
I believe it was stated somewhere that the Sabans signed as guarantors for at least some of the debt.
Posted on 12/11/13 at 10:58 pm to GeauxxxTigers23
I'm wondering now if he didn't do a bit of point shaving this season to recoup some of his debt money back. May have intentionally thrown the Auburn game
Posted on 12/11/13 at 10:58 pm to Brisket
If Saban is 40 million in debt than Paul McCartney died in 1967 and Bill Gates is a reptilian overlord set out to own and destroy the world.
Posted on 12/11/13 at 10:58 pm to GEAUXmedic
Saban is 20 at most. However it's all a guess. I can't say what the actual number is he owes but I can only agree that saban is a goner!!
Posted on 12/11/13 at 10:58 pm to magildachunks
Thanks 
Posted on 12/11/13 at 10:59 pm to GeauxxxTigers23
According to the guys on that podcast, its in his contract that he is not allowed to recruit any recruits that Texas had not already been in contact with.
They said Texas would only be allowed to go after a few of Bama's commits. 3 or 4.
They said Texas would only be allowed to go after a few of Bama's commits. 3 or 4.
Posted on 12/11/13 at 10:59 pm to Othello
quote:
Paul McCartney died in 1967 and Bill Gates is a reptilian overlord set out to own and destroy the world.
You do realize both of your hypotheticals are entirely possible
Posted on 12/11/13 at 10:59 pm to massiveattack
I'm pretty sure that there's a Saban to Texas-themed parody of "We Didn't Start the Fire" but don't know enough about the Austin side of it to do it justice.
Plus, I'm a Dawg fan and I just want him to GTFO of Georgia and lay off our recruits.
Plus, I'm a Dawg fan and I just want him to GTFO of Georgia and lay off our recruits.
Posted on 12/11/13 at 11:00 pm to Meno's Paradox
It's more common than you think. I worked for a company that did almost $20m a year in revenue as an LLC and the owner always had to sign a guarantee and take out life insurance when we got a loan. Guess it depends on the bank.
Posted on 12/11/13 at 11:00 pm to Meno's Paradox
quote:
Can't speak to your experience, but an LLC protects the owners from the debts of and any judgments against the business. This is legal fact. I had a company for years and sold it. We were an LLC for specifically the reason listed above. I wanted personal protection due to the nature of the business and hired very good attorneys to make sure I got it.
An LLC is the best way to go. I purchased many items through banks - including building for the office - and was never asked to provide any personal guarantee for the loans. In fact, I don't know any owner of an LLC (other than you, apparently) who has been asked to do so.
I know a couple of people who were asked to sign personally. It depends on the lender, the business, the financials. Your one business is not a trend, I am guessing you were pretty well established to get off without having to sign anything as an individual when you bought a building.
Posted on 12/11/13 at 11:00 pm to Tiger Ryno
quote:
I'm wondering now if he didn't do a bit of point shaving this season to recoup some of his debt money back. May have intentionally thrown the Auburn game
Posted on 12/11/13 at 11:00 pm to Meno's Paradox
quote:
I wanted personal protection due to the nature of the business and hired very good attorneys to make sure I got it
Guarantee you Saban is not a great business man. Probably hired some guys who ended up screwing him over.
Such is the sad tale of athletics
Posted on 12/11/13 at 11:00 pm to HollierThanThou
quote:
You do realize both of your hypotheticals are entirely possible
Yeah, I'm more convinced than ever now.
Posted on 12/11/13 at 11:01 pm to Thib-a-doe Tiger
Final post about the debt:
LINK
***Above was a post from a previous TD thread***
quote:
There's an apartment complex in Houston (Watermarke Apartments) that's under water. Your pal Nick Saban is 49.5% owner of AND he is PERSONAL guarantor on the note. He currently pays interest only so the note won't default. If the note defaults that's a $25MM judgement against him.
A Texas Based bankruptcy firm (Weston Legal) had a very in-depth article up about it until 3 days ago and - BOOM - it's magically disappeared (although a Google Cached version is here: LINK to the cached article.).
Anyway, if he gets out from under that loan that's an additional seven figures a year that goes back in his pocket from not having to pay the interest AND he gets out from under the impending crush of a $25MM debt.
This is all public record, courtesy of the Texas Secretary of State (search for Beltway 8 Associates LP) and the Harris County (TX) clerk of court and its one of the most poorly kept secrets in the Baton Rouge Real Estate business community.
Now the apartment debt is bad enough, but because of Perkins Rowe, Tommy Spinosa had to file Chapter 11 to protect his creditors from seizing his assets, which leaves Nick Squarely in the crosshairs of that $25MM.
Again, this is all a matter of public record (Bankruptcy filings and mortgages always are public records) should you choose to look it up yourself.
LINK
***Above was a post from a previous TD thread***
Posted on 12/11/13 at 11:01 pm to Walking the Earth
Saban faked the moon landing, then forced Kubrick to put clues in his movies
Posted on 12/11/13 at 11:02 pm to massiveattack
What a dumbass lol
Posted on 12/11/13 at 11:02 pm to bamafan425
quote:
According to the guys on that podcast, its in his contract that he is not allowed to recruit any recruits that Texas had not already been in contact with.
They said Texas would only be allowed to go after a few of Bama's commits. 3 or 4.
I said this a while back, but how on earth does anyone propose that Bama go about enforcing that?
It'd be a gentlemen's agreement at best.
Those recruits haven't signed LOI's with anybody, and the new FA thing isn't binding on the students. They can send their LOIs to whoever the hell they want if the school will accept them.
Posted on 12/11/13 at 11:02 pm to HollierThanThou
Posted on 12/11/13 at 11:02 pm to Tiger Ryno
quote:
I'm wondering now if he didn't do a bit of point shaving this season to recoup some of his debt money back. May have intentionally thrown the Auburn game
He obviously borrowed the money from his special teamers.
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