John L Smith may have commited state and federal crime

[Dossenator]

No, I am not referring to his terrible coaching job so far this season.

http://www.usatoday.com/story/sports/nc ... y/1618249/

April 23, 2012
John L signed a contract that stated he would be paid $850,000 dollars (10 month contract). Contract said he would receive $425,000 dollars from the University of Arkansas to be paid in monthly installments and the remaining $425,000 would be paid to him by the Razorback Foundation.

May 22, 2012
Kentucky judge ordered a Kentucky bank to garnish John L Smith's wages to help pay a Louisville investor that John L owed over $800,000 dollars too.

July 10, 2012
John L signs formal contract with the University of Arkansas. The payment terms changed: John L Smith would be paid $250,000 from the University of Arkansas in montly installments.

August 30, 2012
John L signs contract that says he will be paid the remaining $600,000 owed to him next year....several months after he filed for bankruptcy. He would not have to claim this income on the bankruptcy.

September 6, 2012
John L filed for chapter 7 bankruptcy.

Something fishy here. He knew he was filing for bankruptcy....AD Jeff Long knew it. So it looks like they deferred 70% of his income to keep him from having to give it to creditors. There is a meeting this Friday in Fayetteville with creditors to discuss this situation. One day before Arkansas hosts Kentucky in Fayetteville. You think John L Smith will be preoccupied all week?

With the distractions of Bobby Petrino why would Jeff Long hire someone with this kind of issue. No wonder John L Smith has been crazier than ever. No wonder he seems to be checked out on game days. No wonder he has provided to leadership and foundation for the team.

This does not look good. And if you did not hear....John L Smith is not $25 million in the whole like it was first reported. He is now $40 million in the whole. AD Jeff Long knew about John L Smith's financial troubles and pending bankruptcy. Can Long face criminal charges as well?

[Spence]

No wonder he went crazy. I feel for ya Doss.

[Dossenator]

No wonder he went crazy. I feel for ya Doss.

I know he has always been a little off. He has been on the Ark staff for the past 4 years. However, this year he took his craziness to a whole new level.

I think AD Jeff Long needs to answer for why his contract was changed. Could he face criminal charges as well?

[Spence]

No wonder he went crazy. I feel for ya Doss.

I know he has always been a little off. He has been on the Ark staff for the past 4 years. However, this year he took his craziness to a whole new level.

I think AD Jeff Long needs to answer for why his contract was changed. Could he face criminal charges as well?

I doubt the AD can face any charges. He isn't trying to defraud any one. It probably isn't unusual to defer payment for a coach. I know the pro's do it for players all the time. I do think the AD needs to answer to the Alumni, fans, and regents about hiring him in the first place, though.

[Dossenator]

Petrino never had deferred payment. Seems fishy that his contract was changed right before he filed for bankruptcy to defer 70% of his income.

I am just ready for this season to be over so Arkansas can move on from this mess.

[Swamp Daddy]

Uh-Oh, powerhouse Kentucky coming into Fayetteville. Watch out hogs.

Swamp Daddy

PS-John L. was quirky here; lately I think he's slid downhill to where 'flake' might apply .

[Dossenator]

Can't believe Vegas has Ark as 18 1/2 point favorites over Kentucky.

[donovan]

Can't believe Vegas has Ark as 18 1/2 point favorites over Kentucky.

I not sure why you gave up on your team so quickly? As for Smith....not an attorney...have spent more the $6.58 with them. Bankruptcy courts can go back and get money that was paid to creditors or promised with in a certain time frame. That may well happen but unless he falsified his petition, do not think there are criminal charges...who knows.

[Swamp Daddy]

Well, UK lost the 2nd string QB last week (1st stringer already gone). So they will go to Arkansas with 3rd and 4th string QBs and frankly, in my opinion, only their (now gone) first stringer deserves the name QB. The point spread might not be that far off; maybe two teams both just going through the motions. I really am just guessing around.

Swamp Daddy

[WoVeU]

I think tax laws are the governing factor in how you can structure contractual payments as income. I think a person is fine as long as the payments are captured between the fiscal year of contractual agreement and fiscal year of contractual termination/term fulfillment. (I think outside of those bounds then a payment would have to be considered to contain in part or whole an annuity structure. That would then be earned and invest income, limits and ink would get much greater then...I suspect I don't know anything finite on that. So he should be fine as law goes.
Donovan has shown the flex and power Bankruptcy Courts have...it rather amazes me. So he likely did this to hedge some things, but it won't stretch too far.

But what I don't get...he has a good job, but how in the world can he have been granted credit that would land him $40M in debt?!?!?

How many multiples is that above his highest annual income over 3 years? Crazy!

[Dossenator]

Well, UK lost the 2nd string QB last week (1st stringer already gone). So they will go to Arkansas with 3rd and 4th string QBs and frankly, in my opinion, only their (now gone) first stringer deserves the name QB. The point spread might not be that far off; maybe two teams both just going through the motions. I really am just guessing around.

Swamp Daddy

Did not realize that Kentucky was down to 3rd string QB.

Ark definitely did not go through the motions vs Auburn this past week: Ark defense created 5 turnovers and had 8 sacks (They did not have that many turnovers and sacks in their first 5 games combined). Not sure if they can show up 2 games in a row though.

Donovan...I did not give up that quickly. Ark did lose 4 straight: terrible loss to ULM where Ark led by 21 half way through 3rd quarter, got blasted by Bama and A&M by a combined score 110-10, and lost to a mediocre Rutgers team in Fayetteville. Doesn't get much worse then that. Not much hope after losing 4 straight in that fashion. Maybe these guys will be resilient and win in spite of their coach.

[donovan]

I hope they can, Doss. The experience should be for the kids and adults should not get in the way. As this saga unfolds, I think Smith had too much external "stuff" going on to take over the reins. Seems the AD knew this...I think I would start there after the season was over.

[Spence]

I hope they can, Doss. The experience should be for the kids and adults should not get in the way. As this saga unfolds, I think Smith had too much external "stuff" going on to take over the reins. Seems the AD knew this...I think I would start there after the season was over.

I agree.

[Dossenator]

I hope they can, Doss. The experience should be for the kids and adults should not get in the way. As this saga unfolds, I think Smith had too much external "stuff" going on to take over the reins. Seems the AD knew this...I think I would start there after the season was over.

Jeff Long was offered the Stanford AD job this year but turned them down. At the time he was being praised for his firing of Bobby Petrino. But we have to remember he was the one that hired Petrino, and then John L Smith. He has done some other very good things, and the Petrino hiring did generate the most money the athletic department has ever made on the 4 years he was the coach....so as a business decision I guess it was a good hire. He got Mike Anderson back to Arkansas to coach the basketball team. The new football facility is well underway. Every athletic field on campus will get some form of a face lift over the next few years. But I would not shed a tear if he was gone after the season as well.