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Saban in financial trouble?
Posted on 2/9/11 at 10:57 am
Posted on 2/9/11 at 10:57 am
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Posted on 2/9/11 at 10:59 am to Draconian Sanctions
Cool! That means Saban will have to sign a three year extension! 
Posted on 2/9/11 at 11:00 am to Draconian Sanctions
Man this is Germans. The B'ham News beat the Advocate to this by months.
Posted on 2/9/11 at 11:00 am to Draconian Sanctions
So that's why Terry is having a big garage sale this weekend.
Posted on 2/9/11 at 11:00 am to Draconian Sanctions
Teh NFL could help those money issues.
Posted on 2/9/11 at 11:00 am to Draconian Sanctions
I feel confident Dr. Witt or Mal Moore would gladly loan him whatever amount he needs, provided he keeps on winning games.
Posted on 2/9/11 at 11:01 am to bamascott2
He can just sell the property and take a haircut right?
Posted on 2/9/11 at 11:01 am to Draconian Sanctions
I would imagine an LLC was formed to protect lord saban's personal assets.
Posted on 2/9/11 at 11:01 am to Draconian Sanctions
Sounds more like a Saban business venture is in trouble; not Saban personally. I suppose he might lose his initial investment but the man makes $6MM a year. I think he will be OK.
Posted on 2/9/11 at 11:02 am to sheek
quote:
I would imagine an LLC was formed to protect lord saban's personal assets.
I'm quite sure of this as well. Just fun to make a thread about it
Posted on 2/9/11 at 11:04 am to Draconian Sanctions
sounds like Nick needs to sell more PECANS
Posted on 2/9/11 at 11:06 am to Draconian Sanctions
He lost to Spurrier, Miles, AND Chizik last year.
He had better be careful before he's forced to coach out of his home-office in the YMCA league.
He had better be careful before he's forced to coach out of his home-office in the YMCA league.
Posted on 2/9/11 at 11:06 am to Draconian Sanctions
quote:
would imagine an LLC was formed to protect lord saban's personal assets.
I'm quite sure of this as well. Just fun to make a thread about it
According to the article, Nick Saban was listed as a General Partner in the LP prior to Jan 26. If he is or was a GP, Saban has unlimited personal liability. really dumb of him/his lawyer to set it up like that, if true.
Posted on 2/9/11 at 11:07 am to Draconian Sanctions
The advocate is late on this fwiw. I cannot believe Spinosa convinced saban to invest in his shady arse project. Tommy doesn't exactly have a perfect track record ie Perkins Rowe. Even though, I think it wasn't all Tommy's fault.
Posted on 2/9/11 at 11:08 am to WaveHog
quote:
According to the article, Nick Saban was listed as a General Partner in the LP prior to Jan 26. If he is or was a GP, Saban has unlimited personal liability. really dumb of him/his lawyer to set it up like that, if true.
if that is the case his lawyer in Lafayette fricked him over.
Posted on 2/9/11 at 11:20 am to bamascott2
quote:
Cool! That means Saban will have to sign a three year extension
Cool that means Saban will go the highest bidder.
FIFY
Posted on 2/9/11 at 11:26 am to Draconian Sanctions
I seriously doubt Saban is on the hook for more than he has already invested. Spinosa appears to have guaranteed the enterprise's debt personally. Saban's advisors would never let him do that.
The later filing lists an LLC as the sole general partner, which is the standard structure for this type of investment. Who knows what wnet on, but I wouldn't be surprised to discover that when you get to the bottom of it, it turns out to be something like Saban is a GP in a partnership which is, in turn, a limited partner, and somebody screwed up their reporting.
The later filing lists an LLC as the sole general partner, which is the standard structure for this type of investment. Who knows what wnet on, but I wouldn't be surprised to discover that when you get to the bottom of it, it turns out to be something like Saban is a GP in a partnership which is, in turn, a limited partner, and somebody screwed up their reporting.
This post was edited on 2/9/11 at 11:31 am
Posted on 2/9/11 at 11:35 am to MoreOrLes
[quote]Cool that means Saban will go the highest bidder.
We are the highest bidder!
We are the highest bidder!
Posted on 2/9/11 at 11:39 am to I-59 Tiger
quote:
So that's why Terry is having a big garage sale this weekend.
Yep yep. She hooked me up with his LSU NC ring for twenty dollars.
Posted on 2/9/11 at 11:40 am to crimsonsaint
Bankruptcy and he is saved
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