OT: Alabama boosters pay off Saban's home | The Boneyard

OT: Alabama boosters pay off Saban's home

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If UConn boosters paid of Geno's or KO's home, I bet they would find some reason to find a violation in it.
 

EricLA

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It's too bad really. College sports is changing rapidly and moving far closer much faster to being a form of professional sports than I thought would happen.
 
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Last off-season Texas made a run at Saban for a LOT more than Alabama is paying him. Suspect boosters making up some of the dif is part of the "stay" package.

At U. of Arizona part of Rich Rod's non-state-paid compensation, and incentive to stay, is a private business has given him shares of stock which vest when he completes all the years of his contract. If he does that, and if the company grows anywhere like their plan, he will be very wealthy.
 

BigBird

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The desire of some to win at any cost is a plague that will be with us for awhile, or so it seems. How will it ever change?
 
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The desire of some to win at any cost is a plague that will be with us for awhile, or so it seems. How will it ever change?
Don't know if it's a plague, but it has been with us a while and is unlikely to change. UCONN WBB fans don't seem to have any problem with Geno being the State of CT's highest paid employee (KO is #2, their boss Warde Manuel is #10, and his boss University President Susan Herbst is #8).

http://ctbythenumbers.info/2013/12/...loyee-salary-lists-40-50-states-including-ct/
 

KnightBridgeAZ

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It is all out of control....

LINK
That depends on what portion of the article you are referencing.

His salary, the cost of his house, the size of his house . . ., absolutely beyond belief. (I'm not sure I understand why anyone needs a home that large).

However, that the Alabama Foundation paid for it . . ., well, Rutgers owned Greg Schiano's house (which was no where near so grand), so it doesn't seem odd. It is the amount that makes it seem odd.
 

KnightBridgeAZ

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Last off-season Texas made a run at Saban for a LOT more than Alabama is paying him. Suspect boosters making up some of the dif is part of the "stay" package.

At U. of Arizona part of Rich Rod's non-state-paid compensation, and incentive to stay, is a private business has given him shares of stock which vest when he completes all the years of his contract. If he does that, and if the company grows anywhere like their plan, he will be very wealthy.
What is difficult is to grasp the Crimson Tide Foundation - it is described as the charitable fund raising arm of Alabama Athletics - so I'm thinking it resembles the Wildcat Club. I'm more familiar with "Foundation" applying to the entire universities fund raising arm (i.e. Arizona Foundation, Rutgers Foundation) which may or may not have a discrete Athletic portion. Apparently, there is a separate foundation for the rest of the University of Alabama - who knew?
 

meyers7

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Don't know if it's a plague, but it has been with us a while and is unlikely to change. UCONN WBB fans don't seem to have any problem with Geno being the State of CT's highest paid employee (KO is #2, their boss Warde Manuel is #10, and his boss University President Susan Herbst is #8).

http://ctbythenumbers.info/2013/12/...loyee-salary-lists-40-50-states-including-ct/
Well Geno is the best in the world at what he does. Don't think you can say the same for Manuel or Herbst.
 
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And think about this- yes this "foundation" raised the money but Saban accepted their actions on his behalf even though he makes $7 million a year courtesy of Alabama taxpayers.

Talk about ethically challenged.....
 
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Well Geno is the best in the world at what he does. Don't think you can say the same for Manuel or Herbst.
But many in Alabama (and elsewhere) feel same way about Saban. So why shouldn't HE get paid accordingly too?
 

VAMike23

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I think that it's beyond offensive that any 501(c)3 organization can make an expenditure like this, where significant private benefit is clearly inuring to an individual, and yet somehow not run afoul of federal regs. This is not an educational scholarship, or a hardship grant, or anything like that. Just pure gravy.

Expenditures of this sort are required to be made "in furtherance of [the foundation's] exempt purpose." If it somehow passes this test, then the org's exempt purpose is, IMHO, a mockery of the relevant statutes.
 
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I think that it's beyond offensive that any 501(c)3 organization can make an expenditure like this, where significant private benefit is clearly inuring to an individual, and yet somehow not run afoul of federal regs. This is not an educational scholarship, or a hardship grant, or anything like that. Just pure gravy.

Expenditures of this sort are required to be made "in furtherance of [the foundation's] exempt purpose." If it somehow passes this test, then the org's exempt purpose is, IMHO, a mockery of the relevant statutes.
I think it is clear that the foundation's purpose is to further the dominance of Alabama football (an amateur athletic endeavor)
 

meyers7

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But many in Alabama (and elsewhere) feel same way about Saban. So why shouldn't HE get paid accordingly too?
I don't necessarily have a problem with them paying for him whatever they want. It's their money.
 

KnightBridgeAZ

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I think that it's beyond offensive that any 501(c)3 organization can make an expenditure like this, where significant private benefit is clearly inuring to an individual, and yet somehow not run afoul of federal regs. This is not an educational scholarship, or a hardship grant, or anything like that. Just pure gravy.

Expenditures of this sort are required to be made "in furtherance of [the foundation's] exempt purpose." If it somehow passes this test, then the org's exempt purpose is, IMHO, a mockery of the relevant statutes.
The organization is, as I noted above, the fund raising arm of University of Alabama Athletics.

I take a tax deduction each year for my annual Wildcat Club (UofA) donation (which includes my personal choice sport donations, as well as, seat license fees for football and softball, which portion is only partially deductible) and my donation to Rutgers Women's Basketball through the Rutgers University Foundation. I mean really, to be fair, is a donation to support college athletics all that charitable (OTH, remember everyone was discussing UConn's men's BB alum not donating to the new building in a recent thread)?

All in all, you raise an interesting point.
 
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Not sure what the issue is here. If anything, the people of Alabama should be applauded for their generosity.

But did you guys hear about the time Geno called a Little Leaguer? What a monster he is.
 

UConnCat

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If I were a member of the Foundation's board I'd be pissed Saban purchased such a hideous monstrosity.

Downton Alabama.

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79c98ec0-5e29-11e4-b918-9d2ee517bd42_Screen-Shot-2014-10-27-at-3-34-30-PM.png
 

ChicagoGG

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Not that we were throwing any tag days for Nick Saban, but Sheesh! (said the daughter of a Tide Alumni).
 

intlzncster

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FWIW, apparently, the Foundation purchased the home from the bank and the Saban's now live in it rent free. So it becomes a free housing situation for the Sabans to go along with the $7m per compensation package.

The Foundation, then, owns the property outright and is responsible for all taxes, etc.
 

ChicagoGG

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Isn't this somehow a taxable benefit for the Sabans? I hope that someone out in the 'Yard is a CPA or tax specialist who can enlighten me
 
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I wouldn't mind "boosters" paying part of Geno's compensation! It would ultimately return more money to State/University. As a taxpayer I like that!
 

KnightBridgeAZ

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I wouldn't mind "boosters" paying part of Geno's compensation! It would ultimately return more money to State/University. As a taxpayer I like that!
Regarding Geno's compensation:

NOTE: No General Fund (state tax dollars) or tuition monies are used to provide any of the resources for this contract. The Division of Athletics at the University of Connecticut is an Auxiliary Service Fund entity and the sources of revenue include: gate receipts, private fund-raising, corporate partnerships, television/radio rights, Big East Conference revenues and NCAA revenues.
-- RICH ELLIOTT (Conn. Post, March 28, 2013)

So, in all likelihood, boosters make up a portion of it, as well as corporate partnerships - can we say "shoe contract". We've always known that Nike pays part of Vivian's salary at Rutgers.
 
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