re: Mack Brown to Resign | The Search For His Replacement

Well I hadn't seen the debt stuff till after my previous post. Sounds like some pretty serious stuff. Oh well, I'm staying with my homer pick that he stays.

Tomorrow has the potential to break the internet, fortunately I've got some easy experiments planned and can keep refreshing until the hamsters explode.

No not the recruits. He lied to our recruits. I mean the school.

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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

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Dont want to hijack this thread, but I have started over 10 companies in the last 20 years. Some C Corps, some S corps, some LP and some LLC.

Everyone of them at some point borrowed money from either a domestic or foreign bank. All of these institutions, all of them, required a PG on on the loans. They would be obscenely stupid if they didn't.

What if all the freshman transferred too? I mean, not that I'm saying it would happen, but could it?

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What if all the freshman transferred too?

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Think they need to be released

Then Saban would have to process a shite ton of people at Texas.

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Just a guess, but it struck me in the podcast that that sort of agreement to basically stop an 18 year old from attending the college of his choice just seemed absurd.

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Ive seen several school release player from LOI when a coach leaves. Its the right thing to do. It looks really bad on the university not to release them.

Saving my spot for tomorrow, goodnight.

Thank You, this is it, The loan was owned by Compass Bank and the story in the legal community was whether Compass was going to go after Saban for the 25 million. This was during 2011 near the game of the decade. They obviously sold the loan off to avoid doing that.

Is that that Bank that Joe Jamal has some ownership in btw?

Saban is basically insolvent unless this is cleared up. If Texans have the loans, they have their man I would think. Game set and match.



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.