re: Saban turned down $100M in order to stay at Bama

Saban was totally underwater with 2 commercial RE deals that went south with the whole economy. On one alone in Houston he was paying interest on 25mm he owed on his half of Beltway 8 Associates Watermark apartments. He was also in a failed mega deal with Spinosa in Baton Rouge @~20mm. He had other CRE problems also. In May 2013 he auctioned off his 11 million dollar Lake Burton home "with no minimum bid" which would cost $500,000 + a yr just in finance and taxes, without furniture, etc. At the time his wife Terri said after the Auburn game "If you win you move, if you lose, you move." At the same time she bought a house in Lakeway outside Austin. Saban's current net worth is reportedly 15mm dollars, the value of his remaining houses, and just 3 mm more than the fire sale auction house on Lake Burton. Somewhere along the way AL or TX boosters and lawyers bundled his debts and bought or sold them. He spends all his time coaching and got burned in the housing bubble like millions of others. Why he turned down the TX job and booster money, or how he was able to after the debt relief is anyone's guess. All of the transactions I referred to are still online with the Chapter 11 TX default and 25mm personal debt there, with another estimated 20mm in BR. 15mm net worth when you make 7.5 mm a yr and have been well paid for 15 yrs is very modest, indeed. 115 million would be hard to turn down unless the debts disappeared and you just jacked up AL for 2mm raise, incentives, buyout, and booster benefits...and were looking to take a golden parachute and retire in several yrs which is definitely not in Nick Saban's DNA. Stay tuned.