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re: Spinosa Debt Refinanced = Saban to UT?
Posted on 12/12/13 at 8:41 am to Tridentds
Posted on 12/12/13 at 8:41 am to Tridentds
quote:
Rich folks don't stay rich by paying off debts of someone on a verbal promise to do anything.
Agree. Paying off debts could - and likely does - mean holding the debt and agreeing not to foreclose. The collateral on Rouzan and on the Houston apartments appear to be very good for Rich folks to retain if the principals to the debt default in the future.
0
Posted on 12/12/13 at 8:42 am to Bamapossum
quote:
I do not believe for one minute that Nick Saban would ever allow himself to be under someone else's thumb. The idea that he would let big money boosters use him like a puppet is not in keeping with anything he has ever done.
Right, he's never had any business deals go south.
Rawwwwwlll taaaahd!
Posted on 12/12/13 at 8:42 am to Tridentds
quote:
Not even sure that would be legal since it would be taxable income.
Its not taxable income if the debt is assumed by a third party. The debt remains intact, but the guarantor is reassigned.
quote:
No way to really hide it working for a public institution.
Which is precisely why they're going to do a debt assumption. Its a private business matter that doesn't need to be reported and isn't subject to FOIA or other open information laws.
Posted on 12/12/13 at 8:42 am to TheDoc
Doc, I didn't know you had sourcez
Posted on 12/12/13 at 8:43 am to tritiger
quote:
Oh, gee, lets see. Maybe if the $25MM debt in question is for land in HOUSTON and you've got several dozen boosters with the ability to assume that debt that live in HOUSTON and know the market far, far, far better WITH the ability/patience to see the debt through maturation than some jackleg in Dothan or Birmingham or some such place.
So there isn't a REC presence in Texas? Interdasting.
Posted on 12/12/13 at 8:43 am to Bubba Bexley
quote:
No such thing as locking Saban in. What would they have done, added a clause saying he has to pay it back if he leaves?
I don't believe he is such a liar that he'd have even entertained UT without the debt.
He left LSU for an NFL gig, made sense. He left Miami because he hated the NFL, made sense. Leaving Alabama only makes sense with the burden of massive debt being paid off. Makes no sense otherwise.
I honestly don't think he wants to leave Alabama. I just think his debt is that bad.
Posted on 12/12/13 at 8:44 am to stat19
quote:
In Georgia today recruiting in case you're wondering
Actually Saban was in Beaumont, Texas yesterday and in Houston today recruiting 5*s. He's already inked about four Louisiana studs in this class. We'll see if they switch with him.
Posted on 12/12/13 at 8:44 am to TheDoc
quote:
quote:
I do not believe for one minute that Nick Saban would ever allow himself to be under someone else's thumb. The idea that he would let big money boosters use him like a puppet is not in keeping with anything he has ever done.
Right, he's never had any business deals go south.
Rawwwwwlll taaaahd!
These Bama fans are truly the real life version of that SNL skit with the bears fans and Ditka. It's fricking hysterical.
Posted on 12/12/13 at 8:44 am to Rickety Cricket
Doc is a true big shot. He knows the booker at the varsity
Posted on 12/12/13 at 8:45 am to TulaneTigerFan
quote:
This thread is amusing
I check Shaggybevo and the Rant every few hours and both sites have quite a few posters that are totally irrational.
It is quite amusing. Glad we are on the sidelines watching this fiasco unfold. Of course at Texass their handling of Mack Brown is a total clusterfxck in itself. If somehow he sticks around past this week and doesn't resign then Texass fans will totally melt down.
Like you said, amusing.
Posted on 12/12/13 at 8:45 am to Bamapossum
quote:
I do not know whether Saban will stay or go. I have no contacts or inside information, but here is why I do not believe this particular theory: 1. I do not believe for one minute that Nick Saban would ever allow himself to be under someone else's thumb. The idea that he would let big money boosters use him like a puppet is not in keeping with anything he has ever done. 2. No one, and I mean NO ONE, with a lick of business sense got rich by throwing millions upon millions of dollars away, or buying something frivolous that costs that much. Paying that kind of money, whether it was one booster or multiple boosters, does not sound like an investment. That's a very big gamble. Even bigger than Texas-sized. Especially if they are not getting a return, just the program. 3. All this speculation and these supposed leaks are exactly the things that Saban seems to hate dealing with. Apparently, Texas and its boosters are micromanagers. Saban is the only micromanager of his program. It's great for a conspiracy theory, and it might have some truth to it, but it is hard to logically conceive.
:beatdeadhorse:
Posted on 12/12/13 at 8:45 am to Bamapossum
quote:
It's great for a conspiracy theory, and it might have some truth to it, but it is hard to logically conceive.
Solid post. I may naively be believing TheDoc, but that's what I'm going off of for now.
Posted on 12/12/13 at 8:45 am to bamaswallows
Things are getting interesting.....
Posted on 12/12/13 at 8:47 am to Rickety Cricket
quote:
Doc, I didn't know you had sourcez
I didn't either
Posted on 12/12/13 at 8:48 am to Wild Thang
now he gone
Posted on 12/12/13 at 8:48 am to Jesus Prejean
quote:
He's already inked about four Louisiana studs in this class
oh has he?
Posted on 12/12/13 at 8:48 am to Y.A. Tittle
quote:
These Bama fans are truly the real life version of that SNL skit with the bears fans and Ditka. It's fricking hysterical.
Be careful, they may start another 25 page thread on their board about how much they aren't worried and don't care.
Posted on 12/12/13 at 8:49 am to CollegeFBRules
quote:
I'm not convinced LSU benefits from Saban leaving
Um, Saban won 3 of the last 4 natl titles and is in the same division of the same conference as LSU.
He's also the best HC in college football. Him leaving Bama means weaker Bama, which means stronger LSU.
Posted on 12/12/13 at 8:49 am to bamaswallows
The debt assumption is a good angle and maybe even a great selling point to go to UT...
I'm sure that Saban would have to fulfill the 10 yr deal (or whatever the so-called deal that is in place) and if Saban doesn't, I'm sure Saban would be responsible for the balance. And if Saban is responsible for the Balance, isn't that the same as having a "buy out"...which Saban does not like to have?
I'm sure that Saban would have to fulfill the 10 yr deal (or whatever the so-called deal that is in place) and if Saban doesn't, I'm sure Saban would be responsible for the balance. And if Saban is responsible for the Balance, isn't that the same as having a "buy out"...which Saban does not like to have?
Posted on 12/12/13 at 8:50 am to Bamapossum
quote:
2. No one, and I mean NO ONE, with a lick of business sense got rich by throwing millions upon millions of dollars away, or buying something frivolous that costs that much. Paying that kind of money, whether it was one booster or multiple boosters, does not sound like an investment. That's a very big gamble. Even bigger than Texas-sized. Especially if they are not getting a return, just the program
Dude, do the effing math.
CNS is a very rich man, but the kind of person who can buy this debt is a very WEALTHY man.
There's a difference.
The wealthy man can wait for a long time for the investment to bear fruit. A 62 year old man with another 5-10 years of prime income earning potential who already pays a lot of money towards interest only on a debt can't afford to see that investment through to fruition.
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