Tweet
I know he needed multiple surgeries on his knee, back for second surgery?
-
-
"College football fans were given an early Christmas present on Wednesday, or at the very least, something very interesting to browse over during their lunch break, when USA Today released its annual rankings of the top paid coaches in college football.
The rankings always lead to interesting talking points; about who’s underpaid, who’s overpaid and what it all means in the grand scheme of things. But on Wednesday we got a new talking point altogether: Who is the highest paid coach in college football?
For years Nick Saban has been at the top of the list, but this year, things have changed, with Jim Harbaugh taking over the reins at a little over $9 million a year."Comment
-
4 million was a loan. How a loan is income is baffling to me.To be a professional means that you don't die. - Takeru "the Tsunami" KobayashiComment
-
It's a no interest loan he'll never have to pay back if he stays. Expect it to be forgiven at the next re-up if he has been successful. Look at it as a safety device for expected ROI.
It's not that unusual. It's a way to make the contract more lucrative without having to show a larger loss on paper - at least until down the road. By that time, the value of JH will have specific outcomes that make the expenditure a good investment - or, if not successful, his contract buyout will be lessened by $4M.
There are also some creative things you can do with income tax doing it this way.Last edited by AlabamAlum; October 27, 2016, 02:34 PM."The problem with quotes on the Internet is that it is sometimes hard to verify their authenticity." -Abraham LincolnComment
-
It's not a loan is the basic idea.Comment
-
Pretty much. Think of it as a potentially revokable bonus.Last edited by AlabamAlum; October 27, 2016, 04:21 PM."The problem with quotes on the Internet is that it is sometimes hard to verify their authenticity." -Abraham LincolnComment
-
I'm not even sure it is that, I don't think there is any chance of them revoking it. It was a way to slide him more money under the table. It is why it wasn't reported at first.Comment
-
That's what those deals are used for in business. As long as the receiving party discharges his duties as intended, the money is his. However, if he doesn't do the job as contracted, leaves early, or is caught with a live boy or a dead girl (or any other egregious moral turpitude), the loan becomes due and any severance package is reduced by that amount.
But to your point, it's also an effective tool if you need the spreadsheet to show a lesser contract amount outlay because a loan would be considered a separate investment and would not be under a salary disbursement.
So, they had trust issues with JH or wanted to hide the cash or had to slide cash to get it approved with a Board or all of the above. Regardless, it's a nice maneuver."The problem with quotes on the Internet is that it is sometimes hard to verify their authenticity." -Abraham LincolnComment
-
Well put. I think there's been something of a double standard with the Penn State thing because it was yucky.Originally posted by AlabamAlum View PostComment
-
A jury awarded McCraery 7 mil on his defamation case against PSUComment
-
It is definitely a loan. If it is forgiven, then it becomes income.To be a professional means that you don't die. - Takeru "the Tsunami" KobayashiComment
-
It's just a technicality that it is a "loan", but the world runs on technicalities. That's why the institution can put it on the investment ledger instead of the outgo or expenditure ledger.
It's a good device for business. It's a smart play."The problem with quotes on the Internet is that it is sometimes hard to verify their authenticity." -Abraham LincolnComment
-
Who the fuck really cares?Comment
-
Alabama fans are the experts on technicalities.Comment
-
Yes we are. You're technically a douchebag."The problem with quotes on the Internet is that it is sometimes hard to verify their authenticity." -Abraham LincolnComment
Comment