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re: Spinosa Debt Refinanced = Saban to UT?
Posted on 12/12/13 at 9:50 am to relapse98
Posted on 12/12/13 at 9:50 am to relapse98
so Jamail can buy up bad debt, write it up as a loss for the tax break but Saban's boss who has 8 figures of wealth can't?
Seriously guys just give me one logical reason, just one.
Seriously guys just give me one logical reason, just one.
2
Posted on 12/12/13 at 9:51 am to Tiger Ryno
Saban did a number on you buddy. No wonder you're so angry all the time.
Posted on 12/12/13 at 9:52 am to tritiger
quote:Solid posting.
tritiger
All of this doesn't mean a whole lot except for the timing of it all.
As I understand it, Key Bank filed to seize the chilled water with the Rouzan investment this summer. No clue what the outcome of that is or if it still pending.
With respect to the Houston complex, I am stupified that he provided a personal guaranty. To the Bama poster clamoring about three investors, there are three entities: Nick Saban and two shell companies owned by tommy spinosa.
If, and this is a big if, the debt was renegotiated/assumed by UT boosters they could have simply assumed the debt and reduced Nick's ownership. At some level, the asset has worth. If it is 96% occupied with increasing rents, as stated in the Weston Law write up, then the asset (property) may not be far from being a good investment. It was likely underwritten when cap rates were not at a sustainable level. Enter this new investment group (whether UT boosters or not) to paydown a portion of the debt with a change in ownership percentages.
What gives all of this smoke is simply the timing of it all. Could be nothing, but would make me nervous as a Bama fan.
Posted on 12/12/13 at 9:52 am to bamafan425
Posted on 12/12/13 at 9:52 am to ThaKaptin
Can you explain why the corporation which bought Saban's note on the Houston complex in 2011 and sent Saban's corporation into bankruptcy dissolved one month ago? Can you explain what happened to the $25 million note it bought from the bank?
Posted on 12/12/13 at 9:54 am to bamaswallows
Quick question y'all:
Is this the only deal Saban has ever invested in? Meaning his only source of income is through UA, and most of that is going to cover this debt. Saban has never made a smart investment that is making him money. He just woke up one day, decided to invest in this, and then sat on the rest of his money.
This is the party line, right? If so, we should start a canned food drive to make sure him and Terry have enough to make it through the holidays.
Is this the only deal Saban has ever invested in? Meaning his only source of income is through UA, and most of that is going to cover this debt. Saban has never made a smart investment that is making him money. He just woke up one day, decided to invest in this, and then sat on the rest of his money.
This is the party line, right? If so, we should start a canned food drive to make sure him and Terry have enough to make it through the holidays.
Posted on 12/12/13 at 9:55 am to chattabama
quote:
Is this the only deal Saban has ever invested in? Meaning his only source of income is through UA, and most of that is going to cover this debt. Saban has never made a smart investment that is making him money. He just woke up one day, decided to invest in this, and then sat on the rest of his money.
No one really knows shite about the Saban's portfolio man.
Posted on 12/12/13 at 9:56 am to Vegas Bengal
quote:
Can you explain what happened to the $25 million note it bought from the bank?
It gone
Posted on 12/12/13 at 9:56 am to JB Bama
quote:
For the record if you are going to pay a coach 40 million why not go after Sean Payton, Bellicheck, a Harbaugh, Mike Tomlin?
None of them have proven themselves in the college game like Saban has, at multiple stops.
Posted on 12/12/13 at 9:57 am to chattabama
quote:
Is this the only deal Saban has ever invested in?
So innocent
So naive
Posted on 12/12/13 at 9:57 am to TheDoc
Posted on 12/12/13 at 9:59 am to chattabama
quote:We know he provided a guaranty on a $25 million note. With Spinosa in trouble and likely hiding assets and laying low, a creditor is going to go after the entity or individual with the greatest ability to satisfy the obligation.
Is this the only deal Saban has ever invested in?
A default of $25 million would be noticed, even by Nick Saban.
Posted on 12/12/13 at 9:59 am to LSUdm21
quote:
No one really knows shite about the Saban's portfolio man.
My case is made. When you are looking at serious investors, almost all of them have losses. They also have gains, too. The question, then, is has he had enough successful ventures to balance out the unsuccessful ones? It is ridiculous to look at one side of the coin without the other.
Posted on 12/12/13 at 10:00 am to chattabama
Well we know he had that spec house on the lake that sat there forever and the listed price fell $3 million until they auctioned it off for an undisclosed price.
It appears Saban's investment knowledge is a bit lacking.
It appears Saban's investment knowledge is a bit lacking.
This post was edited on 12/12/13 at 10:01 am
Posted on 12/12/13 at 10:02 am to TJRibMe
What pages were the public records on? I have been in an exam. Thanks in advance.
Posted on 12/12/13 at 10:02 am to chattabama
Show me the other side.
Posted on 12/12/13 at 10:02 am to Vegas Bengal
Saban ain't never done nothing wrong! He stayin! Rawwwwlll taaaaaahd!
Posted on 12/12/13 at 10:02 am to chattabama
Obviously there are 2 separate factions at work here....the university and the "boosters". One moves much faster than the other and the 2 do not always see eye-to-eye. Is there a power play going on behind the scene at UT and what authority do the "boosters" have at this point?
Posted on 12/12/13 at 10:03 am to bamafan425
No clue. Let me go back. It was a cached version of a press release from a bankruptcy law firm.
Posted on 12/12/13 at 10:03 am to bamafan425
quote:
What pages were the public records on? I have been in an exam. Thanks in advance.
This actually explains a lot about some of your posts.
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