Bama Boosters Pay Off Saban’s $3.1 Million Home
Bama boosters decided to pay off Nick Saban’s home to the tune of $3.1 million not long after the University of Alabama won the BCS National Championship game against Notre Dame in January 2013.
This is just another day in the life of the highest paid coach in college football. And, the University of Alabama wants to “keep him happy.”
Saban and his wife purchased the 8,759 square foot home when they came to the university in 2007 for $2.875 million. The Sabans continue to live in the Tuscaloosa home, which is situated on 1.26 acres.
The Crimson Tide Foundation, the organization that paid off the home in full, has also paid property taxes since the Sabans first purchased it.
Assistant Secretary of the Crimson Tide Foundation Scott Phelps told Al.com that it’s not unusual for universities to provide housing for their head coaches.
With regards to Saban, he said, “We want to keep him happy. We think he is the best coach in America.”
This is the same arrangement legendary Bama Coach Paul Bear Bryant had with two different homes. Saban, like Bryant, can live in the home free of charge as long as he would like including after retirement.
The foundation is a nonprofit group founded in 2003 that provides money for scholarships, endows coaching positions, and has provided money for the renovation or construction of athletic facilities.
Al.com reports that shortly after the championship game against Notre Dame in January 2013, the University of Texas spoke with Saban’s agent in an attempt to lure Saban away. Texas wanted to pay Saban more than $100 million over the life of a contract.
However, the purchase of Saban’s home was not tied to any specific win or attempt by another school to attract him away from the university.
Saban signed a new long-term contract earlier this year with Alabama for $6.9 million per year, before performance bonuses. The new contract extends to January 31, 2022 and does not include the foundation’s purchase of the home.
The Alabama Crimson Tide has had its ups and downs this season. Earlier this month, the Inquisitr reported on Saban’s disappointment with his team this year. He said that he felt like the team recovered well, at least in their practices, from the loss against Mississippi. However, the game against Arkansas revealed waning morale.
The Crimson Tide has time to improve their ranking this season. Nick Saban said that he isn’t worried because “it only matters where you end up at the end.”
With such generous acts as the Bama boosters’ pay off of his $3.1 million home, Saban probably won’t have difficulty finding reasons to stay at the University of Alabama.
[Image via Forbes]
