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Started By
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re: Spinosa Debt Refinanced = Saban to UT?
Posted on 12/12/13 at 4:11 pm to League Champs
Posted on 12/12/13 at 4:11 pm to League Champs
That doesn't mean he was the only individual. That would have been bought through an LLC anyway, so the liability is, well, limited.
3
Posted on 12/12/13 at 4:13 pm to CapstoneGrad04
Add the other 25 million on the apartment complex he was personally liable for under his LOG to this too. It was paid off last month too.
Posted on 12/12/13 at 4:15 pm to TutHillTiger
quote:
he was personally liable for
Again, where is this stated?
Posted on 12/12/13 at 4:16 pm to CapstoneGrad04
bammers are entrenched
I can just see saban up on the podium announcing taking the UT job and bama fans saying "who does he think he is? he can't just quit bama! HURRRRR"
I can just see saban up on the podium announcing taking the UT job and bama fans saying "who does he think he is? he can't just quit bama! HURRRRR"
Posted on 12/12/13 at 4:16 pm to CapstoneGrad04
That's the thing, llcs arent limited from this kind of liability.
I have a few llc's, and when I go to the bank for much smaller amounts of money than are being discussed, I have to sign and personally guarantee the repayment of the funds
I have a few llc's, and when I go to the bank for much smaller amounts of money than are being discussed, I have to sign and personally guarantee the repayment of the funds
Posted on 12/12/13 at 4:25 pm to BigEdLSU
quote:
llcs arent limited from this kind of liability.
But really, they are. No one is going to sign a personal guarantee on $25M
Posted on 12/12/13 at 4:34 pm to League Champs
quote:
So a guy with $200M in bankruptcy comes up with $14M the week Mack Brown steps down, says no comment on where the money came from. The guy who he paid the $14M to, also says no comment on how the financing got done
I mean, how hard would it be to say, "We are grateful that Cap1 bank has so much faith in our project". I mean (insert bank here) would want the world to know that they are investing in BR
This deal is secret for a reason
Can you read? The $14,000,000 was borrowed from one bank to pay off another lender. This was published on December 11 with all terms disclosed in the article. Named the old lender, named the new bank, named the amount refinanced.
My man.
Posted on 12/12/13 at 4:35 pm to CapstoneGrad04
quote:
But really, they are. No one is going to sign a personal guarantee on $25M
No bank is going to give a loan to some new LLC that was created for investment property. They would only take a personal guarantee on someone that actually could pay it back. Like someone who makes $5-6 Million a year.
Posted on 12/12/13 at 4:48 pm to mckibaj
But really, they are. No one is going to sign a personal guarantee on $25M
Saban did at least twice.
Probably something like Coach we are going to bring some papers over for you to sigh about 30 minutes before practice is that ok?
Saban did at least twice.
Probably something like Coach we are going to bring some papers over for you to sigh about 30 minutes before practice is that ok?
Posted on 12/12/13 at 5:09 pm to ErnestTBassmaster
It happened dude. I have had to sue Spinosa for unpaid contracts before. He is a slick talking snake in the grass.
Terry is into real estate, and no one is bigger in baton rouge than Spinosa. No one is dirtier either.
He filed bankruptcy and the entire thing falls on nickolaus.
Terry is into real estate, and no one is bigger in baton rouge than Spinosa. No one is dirtier either.
He filed bankruptcy and the entire thing falls on nickolaus.
Posted on 12/12/13 at 5:27 pm to BigEdLSU
This is old news. I remember a bunch of defense lawyers talking baout this in 2011 as in what the hell was compass bank going to do now that Nick owed them 25 million bucks. Who wants to be the lawyer that puts Nick in bankruptcy before the game of the century etc. It was talked about a lot in Bama and Baton Rouge. i thought it was taken care of until this Fall. It was taken care of last month. According to UT guys by their Alumni. They have come up with links etc.
If Bammers paid it off, great but no one to date has claimed that. They (UT people) came on here claiming that UT alums paid 40 million on debt off for Saban on Monday as part of some big public private deal. Seemed incredible to everyone. But now after people on here have done some research about 39,500,000 worth have Saban's debt has been found, and found to have been paid off last month.
Just saying that some of these UT insiders appear to know WTF they are talking about.
If Bammers paid it off, great but no one to date has claimed that. They (UT people) came on here claiming that UT alums paid 40 million on debt off for Saban on Monday as part of some big public private deal. Seemed incredible to everyone. But now after people on here have done some research about 39,500,000 worth have Saban's debt has been found, and found to have been paid off last month.
Just saying that some of these UT insiders appear to know WTF they are talking about.
Posted on 12/12/13 at 5:31 pm to TutHillTiger
my source wasn't bullshitting (even though I didn't believe it myself at first)
Posted on 12/12/13 at 5:33 pm to ErnestTBassmaster
quote:
This was published on December 11 with all terms disclosed in the article
Heres the December 11th article. Who is the lender mentioned?
LINK
Posted on 12/12/13 at 5:37 pm to League Champs
Again I ask, with new NCAA rules stating that all coaching contracts must be 100% above board how is this even feasible? This shite is easily traceable by the NCAA. They don't even need a subpoena to get the information.
Posted on 12/12/13 at 5:38 pm to ThaKaptin
it's just some oil men giving him a donation
they aren't employed by UT
they aren't employed by UT
Posted on 12/12/13 at 5:40 pm to TheDoc
If they are boosters of the program then that doesn't fly
Posted on 12/12/13 at 5:40 pm to TheDoc
I don't see how anyone can deny this is happening anymore….
eta: no one is gonna get the ncaa involved, esp bama
eta: no one is gonna get the ncaa involved, esp bama
This post was edited on 12/12/13 at 5:42 pm
Posted on 12/12/13 at 5:41 pm to TheDoc
quote:
it's just some oil men going into business with him
Fixed
Posted on 12/12/13 at 5:41 pm to ThaKaptin
Hell I guess if that works then I'll just start paying players then since I'm just some store owner making a donation. 
Posted on 12/12/13 at 5:42 pm to ThaKaptin
players =/= professional coaches
maybe I thought you'd understand the difference
maybe I thought you'd understand the difference
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