The FBI is going after the fvcking president. These MFs act like some hill billy millionaires are untouchable lmao.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
This sir is 100.To be fair both sides are brainwashed by the media. That’s why I find politics hilarious.
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.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.
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.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.
Thank u.The FBI is going after the fvcking president. These MFs act like some hill billy millionaires are untouchable lmao.
Except it will have been the Foundation that paid, and NOT the University....
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. ..
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 eitherYour 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...
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 bansNever, 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.]
Ok. Cool. Place me on ignore. I will do so right after this responseExcept 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.
I don’t do ignore.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.....])
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.