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Started By
Message
re: Spinosa Debt Refinanced = Saban to UT?
Posted on 12/12/13 at 10:53 am to chattabama
Posted on 12/12/13 at 10:53 am to chattabama
quote:
So these are his only investments, right?
Well, he didnt win his 1st BCS until 2003. Didnt start getting paid until 2004
Perkins Rowe started in 2006, and went bunkrupt in 2008. I imagine that put a drain on his cash flow.
He won his 2nd BCS in 2009. Got paid again, but then the Houston apartments cost him $12.5 M
So, yeah, he might have other investments, but to borrow any more money he has to show both bankruptcies. So I doubt he has anything significant coming in, to replace whats hanging over his head
1
Posted on 12/12/13 at 10:54 am to bamafan425
quote:The chilled water plant is in a bit of uncertainty as well.
What about Poodlebrain's post?
Key Bank has sued for ownership
Again, who knows what Saban is truly liable for. My guess is the chilled water plant is still tied up in litigation.
Posted on 12/12/13 at 10:55 am to Signal Soldier
If any of this true, nick saban is an fool with regards to money. He is basically a serf now for his texas overlords but at least they threw him a lifejacket in shark infested debt waters. Karma would have saban go to texas and the do a crappy job cause frick the texas overlords.
This post was edited on 12/12/13 at 10:57 am
Posted on 12/12/13 at 10:56 am to League Champs
Saban is up to his eye balls in debt
Bama fans are going to be shocked but I don't know why. It's all out there.
Bama fans are going to be shocked but I don't know why. It's all out there.
Posted on 12/12/13 at 10:56 am to bamafan425
quote:
Public bodies don't have access to public records?
I notice you left out the ONLINE part. I cant link to a public record unless it has online access
Posted on 12/12/13 at 10:57 am to TJRibMe
LINK
Sounds like they were making money off above market rates?
Sounds like they were making money off above market rates?
quote:
Cinemark claims Central Facilities has charged above-market rates for chilled water and asks the court to apply the "standard public rate" of 8.1 cents per ton hour, which Central Facilities argues is "abusively low."
Posted on 12/12/13 at 10:57 am to League Champs
Posted on 12/12/13 at 10:58 am to TheDoc
Doc does your source have a read on when the actual deal will become offical to the public? Posted on 12/12/13 at 10:59 am to TJRibMe
quote:
The chilled water plant is in a bit of uncertainty as well.
Key Bank has sued for ownership
Again, who knows what Saban is truly liable for. My guess is the chilled water plant is still tied up in litigation
Tommy will sell it back to them to clear the debt. The chilled water plant does at least a million in revenue a year I would estimate. No one owes anything on that. It's just a big bargaining chip for Tommy to hold.
Saban probably owes for the loans as well in the tune of the 6 million thats been stated. But that means nothing on the CWF.
Posted on 12/12/13 at 11:01 am to Tiger Ryno
Not sure that the booster money will ever be made public. He said 8 million a year for 10 years but in reality it's much more because of the debt being doubt off from his bad debts.
Posted on 12/12/13 at 11:02 am to supatigah
quote:
"If" the filthy rich Texas oil barrons have dished out $40mm to assume Saban's so-called bad debt then they will expect full access and full disclosure to NS - basically Nick will be nothing more than an endentured servant to the power boosters at UT. Those fat cats will be his "boss" in more ways than one and Nick & Mrs. Terry will love to live their twilight years beholden to those oil stained men
quote:How long has this massive debt of Saban's been in existance?
i think you are looking at this wrong
if this has happened, then Saban can just coach at Texas and NOT have to deal with these financial matters clouding his family's future. He walsk away from the debt, wins a BCS at a third school and keeps everything he makes from his coaching contract and drifts off into whatever he wants to do when he quits coaching
If the debt was cleared but he stays at BAMA then it will be leaked and he will be humiliated. If the debt was not cleared and he stays at BAMA he has to find a way to resolve all of this financial mess while still trying to maintain BAMA at this high level
Very weird that we didn't hear a peep about this potential bankruptcy 12 months ago when Cleveland was offering him $10mm/yr and part ownership of teh Browns franchise.
Now all of the sudden, Texas oil men are bailing Saban out AND giving him the golden parachute financial future to live out his life in financial freedom. Oh, how lovely things are turning out for Nick & Terry.
Posted on 12/12/13 at 11:02 am to TheDoc
yep that is what I figured, but do they think he will be announced immediately (1-2 days) after Mack retires?
Posted on 12/12/13 at 11:02 am to Geauxld Finger
This is getting a little ridiculous, if all of the numbers floating around are true.
100m x 10yrs
30m in debt (give or take)
1% stake in Longhorn network = estimated 1-3m
So Saban is ultimately going to "Make" 14+m a year over 10yrs
100m x 10yrs
30m in debt (give or take)
1% stake in Longhorn network = estimated 1-3m
So Saban is ultimately going to "Make" 14+m a year over 10yrs
Posted on 12/12/13 at 11:02 am to TheDoc
quote:
Saban is up to his eye balls in debt
I'm sure he is. After all, an anonymous stranger on the internet said so! I'm sure you're quite the insider.
quote:
Bama fans are going to be shocked but I don't know why. It's all out there.
So, um, I'm bookmarking this thing to laugh (even harder) at you when he doesn't leave.
I'm also buying up all your markers around town, see, then I'm calling those markers, see, and when you can't make with the moolah, I'm going to send a couple of my boys around with crowbars to work you over but good.
Posted on 12/12/13 at 11:03 am to RT1941
quote:
How long has this massive debt of Saban's been in existance?
Very weird that we didn't hear a peep about this potential bankruptcy 12 months ago when Cleveland was offering him $10mm/yr and part ownership of teh Browns franchise.
Now all of the sudden, Texas oil men are bailing Saban out AND giving him the golden parachute financial future to live out his life in financial freedom. Oh, how lovely things are turning out for Nick & Terry
Things come to a head at different times. Also Cleveland wasn't offering him an off the books sum of cash.
Also who wants to live and coach in cleveland aka The Mistake By The Lake
Posted on 12/12/13 at 11:04 am to Tiger Ryno
quote:
Doc does your source have a read on when the actual deal will become offical to the public?
Waiting on Brown
Hes holding out, waiting on the outcome of the UT prez employment meeting today. The vote right now us 5-4. My bet is Brown gets thrown under the bus, cuz the prez wants to keep his job
The prez got some fancy schmancy title recently, which requires him being a college prez in order to keep it . . . so its goodbye Mack, later today
Posted on 12/12/13 at 11:05 am to Geauxld Finger
Maybe saban didn't realize how bad his goose was cooked when cleveland offered last year if this stuff is true. IF this stuff is true, he really has no choice to be a texas serf.
Posted on 12/12/13 at 11:06 am to TheDoc
quote:
TheDoc
I'm wondering if we know each other IRL. We both have the same bead on the same logic behind CNS's debt/legal issues.
My knowledge of it comes from me being in that industry. You sound as if you have the same level of understanding of the dynamics. I wouldn't expect the average Gump to grasp these financial concepts. RHAWWLLL TAWWDDD.
Posted on 12/12/13 at 11:07 am to daBIGKAHUNA
quote:
Nicky has to love his financial business being all over these forums.
This stuff is all a matter of public record.
Posted on 12/12/13 at 11:08 am to AlaTiger
Isn't he contracturally obligated to recruit in his current job as coach of the Crimson Tide? And surely he would not take any of those he recruited to his next job should he leave. THAT would not be right.
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