Alabama head football coach Nick Saban speaks with the Huntsville press as the Crimson Caravan rolls into Huntsville, stopping at the Von Braun Center North Hall to meet with fans and alumni. (Bob Gathany/[email protected])
BIRMINGHAM, Alabama – Beyond the nearly $6 million annual salary Nick Saban received last year to coach football at the University of Alabama, he earned hundreds of thousands of dollars from a variety of sources, according to the coach’s most recent state ethics form. Among them were book publishing, real estate (in Alabama, Louisiana, and Texas) and a company related to the creation of a new Birmingham-area Mercedes-Benz dealership .
Public employees whose base salary is greater than $75,000 are required to file the form with the Alabama Ethics Commission. Employees are asked to provide information about their families and any outside income from consulting or professional services in about three dozen types of industries – including alcohol, insurance, government and banking.
Saban’s 2013 Statement of Economic Interests form was filed April 29 (one day prior to the deadline) and published on the Alabama Ethics Commission website on May 2.
Auburn University football coach Gus Malzahn did not file a statement by the April 30 deadline. “Contact has been made and we have been told the filing will be done,” Barbi Lee, Chief of the Finance and Administrative Division of the Alabama Ethics Commission stated in an email to AL.com
Employees who fail to submit the form on time are subject to a fine of $10 a day, not to exceed $1,000. Additionally, the law states: “A person who intentionally violates any financial disclosure filing requirement of this chapter shall be subject to administrative fines imposed by the commission, or shall, upon conviction, be guilty of a Class A misdemeanor, or both.”
Efforts to reach Malzahn or Auburn’s assistant sports information director, Kirk Sampson, were unsuccessful prior to the publication of this report.
On the form, employees are required to enter a range of earnings, not a specific amount. The highest available category is “more than $250,0000.”
Saban listed receiving $150,000 to $250,000 from Sideline Inc., which, according to Alabama Secretary of State records, was formed in Jefferson County in 2009 for the “authorship of books with respect to Nick Saban.”
Saban also received $50,000 to $150,000 in interest and dividends from brokerage accounts and checking accounts.
He earned more than $250,000 in rental income and other services from “Various Entities.”
Saban said he received more than $5,000 from banks for professional services or consulting.
He also lists a fee of between $1,000 and $10,000 for serving as a director of Capstone Bank.
The form requires employees to list any businesses or subsidiary in which the employee, spouse, or dependents had 5 percent or more stock in, or which they served as an officer, director, trustee or consultant and received income of $1,000 or more. In this category Saban listed: Central Facilities LLC; Beltway & Associates Limited Partnership; Kenilworth LLC; LTG Hasellett, LLC; TLS, LLC; Sideline Inc.; 2590 Associates LLC; Shorelane Sanctuary LLC; Yorkshire Townes LLC; Blitzmore, LLC; and First Down, LLC.
Several of those are real estate companies, including TLS LLC. According to a Greater Baton Rouge Business Report, in December 2012 Terry Saban, was listed with the Louisiana Secretary of State’s Office as the sole member of TLS Investments LLC. That company bought property from developer Tommy Spinosa. Nick Saban and Spinosa formed Beltway 8 Associates in November 2004 with the Texas Secretary of State to build the 280-unit Watermarke Apartments, on about 15.6 acres in Houston, Texas. Beltway 8 filed for chapter 11 bankruptcy in January 2011 but by August 2012 had gotten out of bankruptcy and had repaid the company that had taken over its $21.25 million loan. According to bankruptcy records in 2011, Saban owned 49.5 percent of that project.
Saban’s most recent public venture is a partnership with another Louisiana man regarding a new Mercedes Benz dealership in Irondale. Late last year, the Mercedes dealership in Hoover filed a lawsuit to block the opening of this new dealership, claiming it would be in its franchise area. According to court records, the Blitzmore LLC business Saban listed was subpoenaed for records in that lawsuit.
On the ethics form Saban also lists more than $250,000 in debt to three banks.
Updated at 4:32 p.m. May 7, 2014 to correct that Saban earned nearly $6 million for coaching last year – not $7 million, which is proposed in his future contract