They are coming for the Foundations

OriginalGatorHater

Sophomore
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Jan 14, 2018
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9,076
I do think that there is going to be a reform in College sports. Has nothing to do w NCAA bylaws v. the gov’t losing money from unfiled under the table monies. The IRS took down Al Capone. I can see them putting an end to boosters, honestly.

These kids on social media flashing money after visits, or families moving funds in accounts out of no where so frequently was eventually going to draw red flags
The FBI is going after the fvcking president. These MFs act like some hill billy millionaires are untouchable lmao.
 

Canedude08

Sophomore
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Dec 27, 2014
Messages
1,390
LMFAO at anyone that thinks that anyone is going to go after football. BILLIONS on the line, lots of extremely well connected people, most of whom have legitimate political power. I'm not saying that the OP is lying, but this doesn't pass the sniff test in the least.
 

pacusmc

Freshman
Joined
Aug 27, 2016
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3,030
To be fair both sides are brainwashed by the media. That’s why I find politics hilarious.
This sir is 100.
People watch news and social media for affirmation instead of information. Flat earth dudes watch flat earth videos not flat earth debunking videos and when they do they still say it’s bs cause they’ve been brainwashed by the last 100 videos that reaffirm what they believe.
It’s a very very bad direction we’re heading.
 

atlCanesFan

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Apr 13, 2015
Messages
496
Although the IRS and the FBI can be ruthless in their investigations, neither are autonomous. Congress could step in, especially if a Senator or Congressman from a state that has a university heavily involved tries to protect his/her territory. If Congress were to get involved, the investigation could become a pissing contest between the haves and have nots.

Lots of variables and could go any number of directions. It's gong to be interesting to see how it all shakes out.
What you say rings true, since there are a lot more have nots than haves some senators would be more than willing to get their schools on more level playing field.
 

canesproponent

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Sep 23, 2012
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1,058
You’re nuts if you think athletes are getting paid out of endowments. It makes anything you say not credible for you to state this.
Never, ever said that. Never. You are misconstruing my statement. Foundations have nothing to do with endowments. They are 50-degrees removed from an endowment.

If the FBI can prove that Alabama paid 25 recruits a mean of $75,000 per annum for 25-years there will be colossal financial penalties. Alabama will probably have to use some of its endowment to pay the fines. They will turn to "boosters" first, then to the state and the last resort will be the endowment. By the way, if they can prove it, it is treble in damages...

Georgetown's hospital in the late nineties incurred a $100M shortfall, and the university wrote a check for the entire amount and those funds came from the endowment. [They ultimately sold the hospital to a third party and kept the medical school.]
 

Rellyrell

All-ACC
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Dec 19, 2013
Messages
10,847
The FBI is going after the fvcking president. These MFs act like some hill billy millionaires are untouchable lmao.
Thank u.

These fools don’t play around. There’s a reason y gangsters try to go in to hiding when a federal crime is committed. Lol. They be on front street, snitching on themselves on IG w state crimes, but when the Feds come knocking, these mofos be in suits and ties and Urkle glasses. Lol.

Feds don’t play no games. If u get a refund check from ur taxes and u owe a student loan; u get ur state money, but the Feds are quick to snatch up the federal money. Lol. No chill from those guys.
 
Joined
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Messages
13,327
...
If the FBI can prove that Alabama paid 25 recruits a mean of $75,000 per annum for 25-years there will be colossal financial penalties. ..
Except it will have been the Foundation that paid, and NOT the University.

Your whole thesis is suspect because I doubt you are privy to the details of a Federal investigation which is currently being conducted. These investigators would not be discussing it outside their investigative group.

Unless they’re keystone cops.

I’m not trying to insult you here, maybe you’ve been bamboozled, but no, I seriously doubt federal investigations are being blabbed about to a guy who’s then going to run off and talk about it on an open public forum.

I’m having serious doubts that there is even an investigation like what you’re talking about.
 

Go Canes!!

Junior
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Feb 27, 2018
Messages
1,816
Got negged by some supposed insiders on here not long ago when I said these huge off the book payments are going to blow up college football because of tax fraud implications. All these alleged $200-$300k payments are going to be a problem.

All it takes is for someone to stop turning a blind eye and start looking at how these poorer families are spending it.

Well they’re looking now. And the paper trail of how it got to them might be clean, but how they spent it certainly will not be.

That’s all it will take to start the domino effect.
 

NC_Canes_11

Recruit
Joined
Jul 5, 2017
Messages
754
All of this sounds great, but honestly all it would take is for the boosters who get caught to cut checks for back taxes. The government only wants its share of the money exchanging hands. They don’t care about anything else.
 

NC_Canes_11

Recruit
Joined
Jul 5, 2017
Messages
754
Your brother is right.

The Southern Congressman and Senators will fight this to the death. Business is moving to the Coasts and outside of Atlanta, Charlotte, New Orleans and the Low COuntry, the South is rapidly losing ground. Even Sun Trust left Atlanta....

They told me 18- 24 months. Barring Vanderbilt, ALL SEC teams pay and almost all Big 10. Easy to trace and these schools have large endowment, great cash flow and the State can bail them out.

Vanderbilt may be part of the ACC in 3-4 years...
Banker here. Suntrust left Atlanta for the friendlier banking regulations in Charlotte. They aren’t the first and won’t be the last to do it either
 

NC_Canes_11

Recruit
Joined
Jul 5, 2017
Messages
754
Never, ever said that. Never. You are misconstruing my statement. Foundations have nothing to do with endowments. They are 50-degrees removed from an endowment.

If the FBI can prove that Alabama paid 25 recruits a mean of $75,000 per annum for 25-years there will be colossal financial penalties. Alabama will probably have to use some of its endowment to pay the fines. They will turn to "boosters" first, then to the state and the last resort will be the endowment. By the way, if they can prove it, it is treble in damages...

Georgetown's hospital in the late nineties incurred a $100M shortfall, and the university wrote a check for the entire amount and those funds came from the endowment. [They ultimately sold the hospital to a third party and kept the medical school.]
This honestly can’t be overstated. If financial penalties are assessed these state schools rely on state budgets. Idk if there is anyway short of folding athletic programs that tax payers won’t be the ones footing the bill. Which in turn will mean outside of some boosters who could be barred from the university nothing major will happen except bowl bans
 

canesproponent

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Sep 23, 2012
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Except it will have been the Foundation that paid, and NOT the University.

Your whole thesis is suspect because I doubt you are privy to the details of a Federal investigation which is currently being conducted. These investigators would not be discussing it outside their investigative group.

Unless they’re keystone cops.

I’m not trying to insult you here, maybe you’ve been bamboozled, but no, I seriously doubt federal investigations are being blabbed about to a guy who’s then going to run off and talk about it on an open public forum.

I’m having serious doubts that there is even an investigation like what you’re talking about.
Ok. Cool. Place me on ignore. I will do so right after this response

No one is "blabbing about Federal investigations" to me. Seven and a half years ago, I learned about the 'Dawgs' Foundation and Arkansas' Foundation. I called one of the regional Heads of the IRS and we have been speaking about it for years. Last year, I was at a dinner with a senior department Head, who leads the West Coast branch of a government entity. We spoke in depth about the Foundations. I called him yesterday and he said that he expected an announcement in 18-24 months. He said that the political backing may no longer be enough to protect them.

I did not attend staff meetings nor am I privy to anything regarding the specific investigation.

Let us agree to place each other on ignore.

Also, no offense, but your statement is asinine. If an independent entity is paying 100% of Alabama's football recruits every year for 25 years, you think Alabama can say: "I had no idea". Also, it is imbecilic to believe that Alabama will have the ability to say: "sorry US Government, we will not use the endowment to pay these fines. Nope. No can do."
(Use Google.... Georgetown lost 10% of its endowment in one year over faulty billing. [They later raised another $1.5 billion in the Millennial Campaign.....])
 

canesproponent

Sophomore
Joined
Sep 23, 2012
Messages
1,058
One more thing.

These Foundations legally provide scholarships and legal athletic donations to their respective schools. Arkansas' Foundation raised $150 million for the refurbishment of the stadium (a large part of that money was hidden and devoted to funding future recruiting payments for the next 5 years - and this came from a Board member, who is my wife's godfather).

The imbecile that says the schools "are independent" of these Foundations is wrong. You cannot accepts millions in donations legally and yet not acknowledge the illicit payments.

There are $15 million in total payments per school over 25 years. These players are receiving on average $75,000 per player.

Georgia paid those CBs north of $250,000 alone....

Have you ever been to Tuscaloosa? That town is only fit for 'red-neck', KKK members who are married to their sisters, and having affairs with their first cousins!
 
Joined
Feb 7, 2013
Messages
13,327
Ok. Cool. Place me on ignore. I will do so right after this response

No one is "blabbing about Federal investigations" to me. Seven and a half years ago, I learned about the 'Dawgs' Foundation and Arkansas' Foundation. I called one of the regional Heads of the IRS and we have been speaking about it for years. Last year, I was at a dinner with a senior department Head, who leads the West Coast branch of a government entity. We spoke in depth about the Foundations. I called him yesterday and he said that he expected an announcement in 18-24 months. He said that the political backing may no longer be enough to protect them.

I did not attend staff meetings nor am I privy to anything regarding the specific investigation.

Let us agree to place each other on ignore.

Also, no offense, but your statement is asinine. If an independent entity is paying 100% of Alabama's football recruits every year for 25 years, you think Alabama can say: "I had no idea". Also, it is imbecilic to believe that Alabama will have the ability to say: "sorry US Government, we will not use the endowment to pay these fines. Nope. No can do."
(Use Google.... Georgetown lost 10% of its endowment in one year over faulty billing. [They later raised another $1.5 billion in the Millennial Campaign.....])
I don’t do ignore.

But thanks for your response.

Please keep us informed about the progress of these investigation that have been going on for apparently seven years.

As far as the endowments , I suppose they can use it for whatever they want, but why would they, when they’re going to claim ignorance as to what the foundations were doing.
 

Go Canes!!

Junior
Joined
Feb 27, 2018
Messages
1,816
All of this sounds great, but honestly all it would take is for the boosters who get caught to cut checks for back taxes. The government only wants its share of the money exchanging hands. They don’t care about anything else.

What about the parents of a kid who took $200,000 from a school and didn’t pay taxes on it and have now spent it all.

They aren’t going down without taking everyone they can with them.
 
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