Quote:FAU’s total compensation package for football coach Lane Kiffin includes a previously unreported $2 million loan that he won’t need to repay should Kiffin remain at Florida Atlantic through 2021...

FAU forgives 20 percent of the original loan amount for each year that Kiffin remains the Owls’ coach, a decrease of $400,000 per year that Kiffin needs to repay.

Having already coached one season, Kiffin would have to repay the university $1.6 million plus interest should he elect to leave prior Dec. 1. With the forgiveness of the $400,000, Kiffin’s actual compensation for last season came to $1.35 million prior to bonuses he received for winning the Conference USA championship and the Boca Raton Bowl.

(08-12-2018 05:36 PM)thefaU Wrote:  http://fauowlaccess.com/floridaatlantic/home-on-loan-kiffin/10369/2018/08/12/

Quote:FAU’s total compensation package for football coach Lane Kiffin includes a previously unreported $2 million loan that he won’t need to repay should Kiffin remain at Florida Atlantic through 2021...

FAU forgives 20 percent of the original loan amount for each year that Kiffin remains the Owls’ coach, a decrease of $400,000 per year that Kiffin needs to repay.

Having already coached one season, Kiffin would have to repay the university $1.6 million plus interest should he elect to leave prior Dec. 1. With the forgiveness of the $400,000, Kiffin’s actual compensation for last season came to $1.35 million prior to bonuses he received for winning the Conference USA championship and the Boca Raton Bowl.

(08-12-2018 06:53 PM)Hilltopper2K Wrote:  

(08-12-2018 05:36 PM)thefaU Wrote:  http://fauowlaccess.com/floridaatlantic/home-on-loan-kiffin/10369/2018/08/12/

Quote:FAU’s total compensation package for football coach Lane Kiffin includes a previously unreported $2 million loan that he won’t need to repay should Kiffin remain at Florida Atlantic through 2021...

FAU forgives 20 percent of the original loan amount for each year that Kiffin remains the Owls’ coach, a decrease of $400,000 per year that Kiffin needs to repay.

Having already coached one season, Kiffin would have to repay the university $1.6 million plus interest should he elect to leave prior Dec. 1. With the forgiveness of the $400,000, Kiffin’s actual compensation for last season came to $1.35 million prior to bonuses he received for winning the Conference USA championship and the Boca Raton Bowl.

That's pretty smart. I think this is something that WKU should do when we hire a new coach. One advantage of being a small market is that houses don't cost as much as some other places so a $1,000,000 loan repayed over the course of 5 years or so would buy a spectacular lifestyle. Then if they break the contract (leave) then the university takes control of the house and the equity.

(08-12-2018 09:29 PM)mturn017 Wrote:  

(08-12-2018 06:53 PM)Hilltopper2K Wrote:  

(08-12-2018 05:36 PM)thefaU Wrote:  http://fauowlaccess.com/floridaatlantic/home-on-loan-kiffin/10369/2018/08/12/

Quote:FAU’s total compensation package for football coach Lane Kiffin includes a previously unreported $2 million loan that he won’t need to repay should Kiffin remain at Florida Atlantic through 2021...

FAU forgives 20 percent of the original loan amount for each year that Kiffin remains the Owls’ coach, a decrease of $400,000 per year that Kiffin needs to repay.

Having already coached one season, Kiffin would have to repay the university $1.6 million plus interest should he elect to leave prior Dec. 1. With the forgiveness of the $400,000, Kiffin’s actual compensation for last season came to $1.35 million prior to bonuses he received for winning the Conference USA championship and the Boca Raton Bowl.

That's pretty smart. I think this is something that WKU should do when we hire a new coach. One advantage of being a small market is that houses don't cost as much as some other places so a $1,000,000 loan repayed over the course of 5 years or so would buy a spectacular lifestyle. Then if they break the contract (leave) then the university takes control of the house and the equity.

It doesn’t sound like the school controls the house just the loan. So if he left he’d owe the school back 1.6 million on a 2.1 million dollar home and would retain the equity. Of course as the article mentioned, the school that hires him will likely buy FAU out of the loan.

(08-12-2018 05:36 PM)thefaU Wrote:  http://fauowlaccess.com/floridaatlantic/home-on-loan-kiffin/10369/2018/08/12/

Quote:FAU’s total compensation package for football coach Lane Kiffin includes a previously unreported $2 million loan that he won’t need to repay should Kiffin remain at Florida Atlantic through 2021...

FAU forgives 20 percent of the original loan amount for each year that Kiffin remains the Owls’ coach, a decrease of $400,000 per year that Kiffin needs to repay.

Having already coached one season, Kiffin would have to repay the university $1.6 million plus interest should he elect to leave prior Dec. 1. With the forgiveness of the $400,000, Kiffin’s actual compensation for last season came to $1.35 million prior to bonuses he received for winning the Conference USA championship and the Boca Raton Bowl.

(08-12-2018 09:07 PM)nastybunch Wrote:  If you guys are trying to convince yourselves he won’t leave at a drop of a hat, try something else...

(08-13-2018 08:42 AM)BlueRaiderBoy Wrote:  So. Here is a stupid couple of questions. Who actually loaned Kiffin the $2 Million? The university or a Fat Cat FAU Booster? Isn't it an NCAA violation to conceal these other forms of compensation? And, for Hilltopper 2K, does anybody in Bowling Green have $2 Million?

(08-13-2018 08:42 AM)BlueRaiderBoy Wrote:  So. Here is a stupid couple of questions. Who actually loaned Kiffin the $2 Million? The university or a Fat Cat FAU Booster? Isn't it an NCAA violation to conceal these other forms of compensation? And, for Hilltopper 2K, does anybody in Bowling Green have $2 Million?

(08-13-2018 08:42 AM)BlueRaiderBoy Wrote:  So. Here is a stupid couple of questions. Who actually loaned Kiffin the $2 Million? The university or a Fat Cat FAU Booster? Isn't it an NCAA violation to conceal these other forms of compensation? And, for Hilltopper 2K, does anybody in Bowling Green have $2 Million?

(08-13-2018 09:16 AM)VA49er Wrote:  I wonder if there are any tax implications associated with a $2 million loan that doesn't have to be paid back?

(08-12-2018 06:53 PM)Hilltopper2K Wrote:  

(08-12-2018 05:36 PM)thefaU Wrote:  http://fauowlaccess.com/floridaatlantic/home-on-loan-kiffin/10369/2018/08/12/

Quote:FAU’s total compensation package for football coach Lane Kiffin includes a previously unreported $2 million loan that he won’t need to repay should Kiffin remain at Florida Atlantic through 2021...

FAU forgives 20 percent of the original loan amount for each year that Kiffin remains the Owls’ coach, a decrease of $400,000 per year that Kiffin needs to repay.

Having already coached one season, Kiffin would have to repay the university $1.6 million plus interest should he elect to leave prior Dec. 1. With the forgiveness of the $400,000, Kiffin’s actual compensation for last season came to $1.35 million prior to bonuses he received for winning the Conference USA championship and the Boca Raton Bowl.

That's pretty smart. I think this is something that WKU should do when we hire a new coach. One advantage of being a small market is that houses don't cost as much as some other places so a $1,000,000 loan repayed over the course of 5 years or so would buy a spectacular lifestyle. Then if they break the contract (leave) then the university takes control of the house and the equity.

(08-13-2018 09:07 AM)FAU Connoisseur Wrote:  

(08-13-2018 08:42 AM)BlueRaiderBoy Wrote:  So. Here is a stupid couple of questions. Who actually loaned Kiffin the $2 Million? The university or a Fat Cat FAU Booster? Isn't it an NCAA violation to conceal these other forms of compensation? And, for Hilltopper 2K, does anybody in Bowling Green have $2 Million?

Nothing was concealed since the agreement was found in a Sunshine Law request. I don't believe Saban pays for his house, car, boat, anything actually.