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Saban about to cost bama more $$$


lionheartkc

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Just a fun little twist that happened while everyone was paying attention to the FAX machine. The new tax law that just passed congress includes a provision that states that all non-profits that pay any of their top 5 employees more than $1 million a year will be hit with a 21% excise tax.  Yes, it's going to hit Auburn, too, as well as several other schools with overpriced coaches, but bama is going to be the poster child and have their name drug through the mud a little on this one.

It will be interesting to see how this plays out over time.

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On ‎12‎/‎20‎/‎2017 at 1:57 PM, lionheartkc said:

The new tax law that just passed congress includes a provision that states that all non-profits that pay any of their top 5 employees more than $1 million a year will be hit with a 21% excise tax. 

Ticket prices going up!  

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34 minutes ago, WDG said:

Ticket prices going up!  

For everyone, right?  I mean both AU & uat have the highest paid coaches in the state in multiple sports.  When coordinators are pulling over $1mm/yr and basketball coaches are up to where head football coaches were a few yrs ago, then this new tax bill will affect both big time schools in AL.  

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9 hours ago, lionheartkc said:

In this case, they won't, because those talking about it don't care about football, they care about excess in tax payer funded institutions.

"They" are far more concerned about removing the tax deduction for required seat option fees and season tickets.  Straight outta' their mouths....

"That's why Alabama athletic director Greg Byrne has publicly said that he's worried about the change, noting that alumni donations have been largely responsible for funding the school's athletic department, which in 2015-16 ranked third in the country with $164 million in total athletics revenue. Byrne has even urged Alabama boosters to donate before the start of 2018, when the new law goes into effect."

https://www.forbes.com/sites/chrissmith/2017/12/22/gop-tax-law-could-cost-top-college-athletic-departments-millions/#2b53b9f3abea

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6 minutes ago, WDG said:

He favors Joe Dirt, but Joe is all heart.  No kin...though all kin...dennis-edward-hancock-9818fb444ef73194.p

Image result for joe dirt

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2 hours ago, ToraGirl said:

He favors Joe Dirt, but Joe is all heart.  No kin...though all kin...dennis-edward-hancock-9818fb444ef73194.p

Image result for joe dirt

But David Spade was only playing a role that looked like this. This other poor guy will always look like this. :)

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1 minute ago, gr82be said:

But David Spade was only playing a role that looked like this. This other poor guy will always look like this. :)

"You're so right, Carl!"  :Sing:

(And I absolutely adore Joe Dirt, always tempted to take him home with me.)

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I am not a tax lawyer, nor do I know the inside of this bill, but I thought in the case of AU (not sure on bama) but I thought the University only paid Gus about $500K, the rest of his was other endorsements and such.  So Gus is not more than $1M from AU.  Is his other pay from some other non-profit?  Is TUF and Athletics and such a non-profit?

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44 minutes ago, GBAU83 said:

I am not a tax lawyer, nor do I know the inside of this bill, but I thought in the case of AU (not sure on bama) but I thought the University only paid Gus about $500K, ...

You are correct, sir.  State employee salary info is public record, in the case of Auburn University it can be found here > https://auapps.auburn.edu/openalabama/

Malzahn was paid less than $1 Million by the university last year.

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19 hours ago, PowerOfDixieland said:

Malzahn was paid less than $1 Million by the university last year.

I'm wondering if that new +$7mm/yr contract will require additional funding from the university?  

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On 12/26/2017 at 1:27 PM, PowerOfDixieland said:

Saban would appear to be a different story.  > http://open.ua.edu/

They've been playing with house money over there since at least that 2012 national championship, so for 5 yrs minimum is been gravy.  I don't see these tax changes being a big deal commiserate with the revenue that man generates for them.

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1 hour ago, keesler said:

They've been playing with house money over there since at least that 2012 national championship, so for 5 yrs minimum is been gravy.  I don't see these tax changes being a big deal commiserate with the revenue that man generates for them.

Yep, nobody at the Crapstone is losing a wink of sleep over this.  When we met with Auburn admissions with my son, a good Auburn woman told us regarding University of Alabama offering out of state students 100% tuition paid (when Auburn essentially reduces tuition to the in-state level for the same SAT scores) "We don't know how they're still doing it....", my first thought was I have an idea. I then told my son "don't even think about it"...his best friend is in school there, lol (no lol).

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