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Message
Lane Kiffin could lose his house to USC (yet another bad house deal)
Posted on 10/14/13 at 9:04 pm
Posted on 10/14/13 at 9:04 pm
USC didn't just take Lane Kiffin's dignity, the university might also be in a position to take his house ... TMZ has learned.
We broke the story ... after Lane accepted the head coaching job at the University of Southern California in 2010, the school agreed to loan him $500k to use toward the purchase of a $5.5 million mansion in Manhattan Beach, CA.
But there was a catch ... under the terms of the deal, if Lane got fired or quit during the life of the loan, USC could demand the $500k back, plus interest STAT ... and if he didn't pay up, SC could foreclose.
LINK
what a fool. as unpredictable of how long a head coach's career can last with the turnover rate being extremely high, why in the hell would he purchase a $5.5M house? I know that he has made good money in recent years and his salary was reportedly around the $2-2.5M mark, but come on. I guess that money hungry wife of his was behind it. I give it 2 years tops until she divorces him and takes what is left.
also for those who don't remember, this isn't the first time he has made a foolish decision with house buying -
Lane Kiffin takes over a $600k loss (on his house)
As if the NCAA sanctions and sub-par season weren't enough to mar his debut at USC, Lane Kiffin didn't exactly make a killing when he sold his Knoxville home this month.
According to a deed on file with the county, Kiffin and his wife, Layla, sold the property on Tooles Bend Road for $1.96 million, in a deal that closed on Jan. 14. The couple bought the property in May, 2009, for $2.6 million.
Kiffin, of course, replaced Phillip Fulmer as the University of Tennessee's football coach, compiled a 7-6 record in the 2009 season, then skedaddled to the University of Southern California.
LINK
We broke the story ... after Lane accepted the head coaching job at the University of Southern California in 2010, the school agreed to loan him $500k to use toward the purchase of a $5.5 million mansion in Manhattan Beach, CA.
But there was a catch ... under the terms of the deal, if Lane got fired or quit during the life of the loan, USC could demand the $500k back, plus interest STAT ... and if he didn't pay up, SC could foreclose.
LINK
what a fool. as unpredictable of how long a head coach's career can last with the turnover rate being extremely high, why in the hell would he purchase a $5.5M house? I know that he has made good money in recent years and his salary was reportedly around the $2-2.5M mark, but come on. I guess that money hungry wife of his was behind it. I give it 2 years tops until she divorces him and takes what is left.
also for those who don't remember, this isn't the first time he has made a foolish decision with house buying -
Lane Kiffin takes over a $600k loss (on his house)
As if the NCAA sanctions and sub-par season weren't enough to mar his debut at USC, Lane Kiffin didn't exactly make a killing when he sold his Knoxville home this month.
According to a deed on file with the county, Kiffin and his wife, Layla, sold the property on Tooles Bend Road for $1.96 million, in a deal that closed on Jan. 14. The couple bought the property in May, 2009, for $2.6 million.
Kiffin, of course, replaced Phillip Fulmer as the University of Tennessee's football coach, compiled a 7-6 record in the 2009 season, then skedaddled to the University of Southern California.
LINK
This post was edited on 10/14/13 at 9:07 pm
12
Posted on 10/14/13 at 9:06 pm to Weebie
he is owed a lot of money by USC. USC get their loan money out of his buyout..people are making a huge deal over this to sensationalize this BS
Posted on 10/14/13 at 9:07 pm to Weebie
It was dumb for him to take the job in the first place with sanctions looming and knowing that nobody would cut him any slack.
Posted on 10/14/13 at 9:07 pm to Weebie
quote:
USC didn't just take Lane Kiffin's dignity
Kiffin? Dignity?
Posted on 10/14/13 at 9:09 pm to Weebie
Apparently, to you, every coach's wife is a gold digger.
Posted on 10/14/13 at 9:10 pm to mrbroker
quote:
he is owed a lot of money by USC. USC get their loan money out of his buyout..people are making a huge deal over this to sensationalize this BS
well that is what the media does best. however what personally blows my mind is the price of the home he purchased especially after losing his arse on the home in Tennessee.
again I know the guy made damn good money, but even with say a $2.5M yearly salary, after taxes and his agent's cut he may see around half of that.
Posted on 10/14/13 at 9:12 pm to Weebie
When Layla says "I want that house", you buy that house.
Posted on 10/14/13 at 9:12 pm to TotesMcGotes
quote:
Apparently, to you, every coach's wife is a gold digger.
ah good ole Totes my biggest fan. funny how you disappeared in the other thread after getting molly whopped by not only me, but other posters as well.
at you truly believing that Arkansas head coach's wife didn't know he was filthy rich until "way into their relationship". Posted on 10/14/13 at 9:16 pm to Weebie
Molly whopped? I'm sorry, but I'll take them for their words. There was no reason to stick around that thread because I obviously can't prove it one way or the other.
You must be relatively young. As you get older, you'll realize that not every gorgeous woman who ends up with a man you think isn't on her level is some gold digging whore.
You must be relatively young. As you get older, you'll realize that not every gorgeous woman who ends up with a man you think isn't on her level is some gold digging whore.
Posted on 10/14/13 at 9:19 pm to TotesMcGotes
quote:
Molly whopped? I'm sorry, but I'll take them for their words. There was no reason to stick around that thread because I obviously can't prove it one way or the other.
You must be relatively young. As you get older, you'll realize that not every gorgeous woman who ends up with a man you think isn't on her level is some gold digging whore.
you disappeared after getting called out for being so naive and playing the typical "good guy" role of "she didn't know he was rich!". look at her, look at him. she knew damn well what was up.
btw I have never once said that every - in your words - gorgeous woman who ends up with a man you think isn't on her level is some gold digging whore. I said that Arkansas head coach and Kiffin's wives were.
Posted on 10/14/13 at 9:21 pm to Weebie
Volfan30 will pick up his slack.
Posted on 10/14/13 at 9:24 pm to Weebie
Well that's two of two, both of which you have no basis for making those claims.
And again, I can't prove it one way or another so I'll take their words for it. I don't know how that makes me "Molly whopped," whatever the frick that means.
And again, I can't prove it one way or another so I'll take their words for it. I don't know how that makes me "Molly whopped," whatever the frick that means.
Posted on 10/14/13 at 9:27 pm to TotesMcGotes
you ran from the other posters calling you out. you can say you left, but you got ran out of the thread for being a sissy about it.
Posted on 10/14/13 at 9:30 pm to Draconian Sanctions
quote:
When Layla says "I want that house", you buy that house.
Absolutely this
Posted on 10/14/13 at 9:32 pm to Weebie
So? Who cares what a bad coach does after he's fired because he did a bad job and acted like a scumbag? 
Posted on 10/14/13 at 9:35 pm to Weebie
I just went back and looked at the thread. The "other posters" who were "Molly whopping" me was some moron from West Virginia. All one of him.
I said the exact same thing I said here, that I'll take them for their words (because there is literally zero evidence that they're lying).
I said the exact same thing I said here, that I'll take them for their words (because there is literally zero evidence that they're lying).
Posted on 10/14/13 at 9:35 pm to Weebie
Karma is wreaking havoc.
Posted on 10/14/13 at 9:36 pm to Weebie
I'm sure daddy will bail him out, and get him another job
Posted on 10/14/13 at 9:38 pm to TotesMcGotes
totes I bet you have a lot of hot, female friends. they all want to be your friend because you're that "good guy" they can trust and will defend them.
more power to you mayne.
This post was edited on 10/14/13 at 9:39 pm
Posted on 10/14/13 at 9:39 pm to tigerpimpbot
What karma is that? Where he can retire at 38 to wherever he wants with his 10 wife?
Talk about some serious moral causation!!!
Talk about some serious moral causation!!!
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