OT - Bama boosters pay off Saban's home | The Boneyard

OT - Bama boosters pay off Saban's home

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the flip side is we could put BD in a north end duplex and all chip in
 
I want to know if they gross him up for the IRS tax hit as well.
 
And you question whether or not these programs pay players a couple thousand under the table through these very same people.

Miss St? Baylor? Auburn? yeah.
 
SubbaBub said:
And you question whether or not these programs pay players a couple thousand under the table through these very same people.

Miss St? Baylor? Auburn? yeah.
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I don't think anyone is questioning that.
 
Nothing new here. Alabama boosters have had deep pockets for decades. They owned two houses for Bear Bryant, one here in Birmingham and one in Tuscaloosa. The one in Birmingham is on a street that runs on the crest of Red Mountain over looking the city. The area is called Redmont and was the neighborhood where the elite of the mining, iron and steel families lived. Also like Bryant, Saban has had a number of opportunities to invest in business partnerships with boosters. The latest is a new Mercedes Benz dealership. As a result of the business opportunities, Bryant's son has a net worth estimated in the range of $250-300 million. At this point he is one of the boosters involved.
 
Jimmy Serrano said:
I don't think anyone is questioning that.
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It was the collective you. Much like MLB ignoring PEDs. We hear about autographs and beer, while there is an entire underground economy, going unnoticed.
 
This really helps the NCAA's cause that it can't afford to pay players, cripes.
 
The ESPN article is a bit misleading. They're not paying off his house for him, they're purchasing the house and letting him live there rent-free. Just doesn't exactly seem like a huge issue to me. I would think the value of "renting the house" is a drop in the pond of his total compensation. Just a nice perk.
 
WhereistheDove? said:
The ESPN article is a bit misleading. They're not paying off his house for him, they're purchasing the house and letting him live there rent-free. Just doesn't exactly seem like a huge issue to me. I would think the value of "renting the house" is a drop in the pond of his total compensation. Just a nice perk.
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Really? The article states that the Sabans purchased the house. So did they buy the house and then sell it off to the boosters, bank the profit and then live rent-free? Or is the article just wildly inaccurate?
 
huskypantz said:
Really? The article states that the Sabans purchased the house. So did they buy the house and then sell it off to the boosters, bank the profit and then live rent-free? Or is the article just wildly inaccurate?
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Based on the other articles I read about it, the Sabans purchased the house a while ago and the news now is that the foundation purchased it from them with like a $200k profit, and will now allow them to live in it rent free. The Sabans do not own the house now to my understanding.
 
WhereistheDove? said:
Based on the other articles I read about it, the Sabans purchased the house a while ago and the news now is that the foundation purchased it from them with like a $200k profit, and will now allow them to live in it rent free. The Sabans do not own the house now to my understanding.
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Correct they bought the house from Saban and pay 10k a year in property taxes allowing him to live there.

Pretty standard stuff at a major program.

Maybe this Alabama thing is a good idea. My property taxes are just about the same as Saban's and I've got no sewers and private garbage collection.
 
Hoophound said:
That's odd. That just makes it easier for him to leave
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Saban's decision to stay or leave Alabama will not be effected in the slighted by having to sell our not having to sell a house.
 
Dooley said:
Oh thank goodness, Nick Saban is really hurting for money these days.
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Actually, he is. He got in deep on some bad developments in Baton Rouge and owes more than 1 person a couple million $$. Folks down there were hearing that Texas was going to pay these debts off for him, until Bama upped the anty
 
WhereistheDove? said:
Saban's decision to stay or leave Alabama will not be effected in the slighted by having to sell our not having to sell a house.
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I agree with your basic premise that Nick has "" money. People with money don't usually care about one house sitting empty somewhere. However, I can tell you that owning a big house in Alabama that no one else there can afford is often a hassle. Coaches in Podunk locations routinely end up owning the houses they buy in those towns for years after they leave the job because they can't find a buyer.

His decision to stay won't hinge solely on the fact that they bought the house from him. It's just kind of weird in that it doesn't do anything for anyone other than make it easy for Nick to leave---yet they do it anyway. It is like all they do is think of ways to contribute to the Church of Saban. It shows me that these people will stop at nothing to dominate college football and they leave no stone unturned, even stones that don't need turning.
 
Hoophound said:
I agree with your basic premise that Nick has " " money. People with money don't usually care about one house sitting empty somewhere. However, I can tell you that owning a big house in Alabama that no one else there can afford is often a hassle. Coaches in Podunk locations routinely end up owning the houses they buy in those towns for years after they leave the job because they can't find a buyer.
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That's a good point. The megamansions don't have a lot of interested parties and it's usually someone of similar ilk. In the Boston area, Drew Bledsoe sold his home to Curt Shilling, who then waited 5 years for a buyer before settling for a 2 mil loss on a property he paid $4.5 mil for.

http://nesn.com/2014/05/curt-schilling-finds-buyer-for-2-5-million-medfield-estate-photos/
 
Exactly. When real estate was booming, there were 2 houses built in Milford - NOT on the water, and in neighborhoods that they didn't fit with. Spec houses, huge, one was on the market for $3M, the other was on for $1.4 I think. The $3M house went for $1.1 and the other one went for $700 or something like that. Waterfront property is one thing...but unless you have a LOT of rich people around, you can't churn expensive property because there isn't enough demand.
 
Jimmy Serrano said:
LOL they even pay the property taxes. If you are going to spend money like that, why wouldn't you feed or clothe people?
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I hope he gives a lot of money to charity because quite frankly the fact that he makes $7,000,000 per PLUS they pay off his mortgage and pay the annual property tax on his mansion is both pathetic and repulsive. This type of excess and greed further fuels the argument that college football players should be compensated beyond full cost of attendance and stipends!

I for one prefer seeing college football stay amateur however with coaching salaries and perks such as they are it will become increasingly more difficult to argue the point that the athletes who are literally breaking body parts and becoming injured for life do not deserve a bigger slice of the pie! As a former college football player I have 2 neck surgeries, 1 back surgery and 1 knee replacement to show for it. Plus my wife insists I am crazy so you never know how much brain damage I have suffered either! LOL!
 
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