Greg Schiano?
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Hey BamaCharlie
- Thread starter unbiasedtruth
- Start date
What title do you give the head Coach of University of North Texas?
Tom Osborne?
Bama Charlie
Well-Known Member
I feel like I'm posting with my brother's kids.
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Settle down Bennett.
Cal84
Member
Posts like this is why others don't take your people seriously in the business world. Saban reported $6mm in income in 2009 because he erroneously included revenue not income from his campus associated football camp. Needless to say there's a difference between Revenue and Income. Additionally his 2009 compensation was inflated because he got a double year accrual of his retention bonus (which he won't receive anyway until his contract is completed). Backing out those amounts he actually made somewhere in the high 4-handle million. But even that is squishy because as noted, his retention accrual is a non-cash item - Saban actually got paid around $4.4 mm, which will also be the figure the IRS will tax him on.
I don't seriously think Saban would bolt. If he attracts interest from outside, Alabama will just bump him up enough to keep him. Not a problem really. The more interesting dynamic is for those programs that don't have access to TV contract cash windfalls. The price of talent is going to be bid up. Boise could double Chris Peterson's salary and it still might reach only half of what someone else will pay for him.
Wow, Cal fans sure bring interesting, alternative smack :lol:
Bama Charlie
Well-Known Member
I don't really know what 'your people' in your post means. You will have to expand on the revenue/income concept for me-I am thinking they are the same.
Yeah, I don't think you'd get IRS and accounting smack like that on an S-EEEEEE-C board.
Bama Charlie
Well-Known Member
learn me up boss-this should be good
Cal84
Member
Saban runs the campus associated football camp. That camp brought in almost $900k in revenue. But Saban doesn't run the camp to make money. He pretty much views it as a breakeven thing with other non-monetary benefits. Meeting new talent, etc. And sure enough the camp has about $900k in expenses. Revenue - expenses = Profit (or income). But in 2009 Saban reported the $900k as income. Keep in mind that "reporting" was not to the IRS (which would have triggered $450K in taxes), but merely to the university so it could then in turn report the NCAA, etc. This reporting error is why Saban in 2010 reports to the university/NCAA that his income has fallen to below $5mm per year - it's because it never was at $6 mm.
Bama Charlie
Well-Known Member
Income is not the same as profit.
Bama Charlie
Well-Known Member
i sense potential in this thread.
does it help if i clarify as follows: "top-line" revenue and "net" income?
opcorn:
I see those as the same also. misread: this answer is incorrect.
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i can't help myself. let me try a different approach...
suppose you spend 10 dollars on cotton seeds. and it costs you 3 dollars to harvest your cotton using your cotton gin and whatnot. say further that the carpetbagger who comes around every month offers you 15 dollars for all of said cotton. your REVENUE is 15 bucks. your EXPENSES are 13 bucks. your NET INCOME is 2 bucks. ... which allows you to build a new shanty down by the river so that you have a place to fish for catfish in the hot sun.
does that help?
Bama Charlie
Well-Known Member
I misread above-I follow you but that is not what the original post said.
The OP was pretty clear. You seem to be the only one that didn't follow it. Maybe Cal84 wasn't typing slow enough for you?
dammit. humility.
i thought we might be headed for an epic thread but you've gone and wrecked it.
no HOF potential here.
Bama Charlie
Well-Known Member
I jumped to conclusions. Nobody has still taught me the difference between revenue and income yet.
Cal84
Member
Bama Charlie seems like a good enough guy. Let's face it, any fan for a team as successful as his and still showing humility is a rarity in the Internet space.
OK so here's my attempt at revenue vs. income differentiation. You own a business. It's a football camp. Kids come to the football camp and you charge them $1,000 each to attend. 900 kids attend and they all pay. And none of their checks bounce! This is an imaginary example, it's true...
At any rate the total collection of all funds paid to you is $900k. That is revenue. Revenue is the total of all funds paid to your business.
But to run your business you also need to buy lunches for the kids, rent practice equipment and facilities and pay your coaches and instructors. Let's say that costs $800k. Those are your total expenses.
So your football camp was a success. You generated a profit of $100k. Sometimes people also call this figure "Net Revenue" although that is more typically used to describe subtotal figures (such as revenue minus cost of goods sold). But that source of confusion is why you'll often see journalists mix those figures around. Regardless, your profit in this case is $100k. Revenue - expenses = Profit.
Now it's the end of the year and it's time to pay taxes. The IRS looks at your business and says, you made $100k. That's reportable income. The IRS then uses a bunch of terms like adjusted gross income which involve modifications off that $100k. But the point is that you must report $100k, the profit from your football camp business as INCOME. If the football camp were a corporation, it would report $100k of pretax income which would then be subject to corporate taxes.
Bama Charlie
Well-Known Member
Cal84 I searched and the word 'profit' is not in your original post. "Needless to say there's a difference between Revenue and Income." That is what I questioned.
[video=youtube;xlA9bNk3b5Q]http://www.youtube.com/watch?v=xlA9bNk3b5Q&feature=related[/video]
77buff
Well-Known Member
Until somebody offers him $5 a year more.
Guy is a mercinary, follows the money. As much money as Alabama has and would be willing to pay him, Texas would make it worth his while to make the move.