So about that "LeBron James" school...

[CommuterBob]

https://www.outkickthecoverage.com/...ty-of-his-school-or-his-college-scholarships/

https://articles.cleveland.com/metro/index.ssf/2018/08/whos_paying_for_lebron_james_n_1.amp

Taxpayers are on the hook for about 70%-80% of the costs of it, and likely more. The local school district is footing the bill to the tune of upwards of $8M/yr, and that doesn't include the college scholarships to U of Akron, which will be mostly paid for by the university, not LeBron's foundation.

It's a noble effort indeed, but he's not paying the majority of the costs - not even close.

 

[fried-chicken]

https://www.outkickthecoverage.com/...ty-of-his-school-or-his-college-scholarships/

https://articles.cleveland.com/metro/index.ssf/2018/08/whos_paying_for_lebron_james_n_1.amp

Taxpayers are on the hook for about 70%-80% of the costs of it, and likely more. The local school district is footing the bill to the tune of upwards of $8M/yr, and that doesn't include the college scholarships to U of Akron, which will be mostly paid for by the university, not LeBron's foundation.

It's a noble effort indeed, but he's not paying the majority of the costs - not even close.

Did you think LeBron James was personally bankrolling an entire school?

 

[UCFKnight85]

Did you think LeBron James was personally bankrolling an entire school?

He sure portrayed it that way.

What an effort. His foundation spends $2M up front so that the district gets to incur a new $8M financial obligation annually. But at least LBJ is getting great pub!

His new salary is $365M over 10 years, in addition to the untold millions he's already collected, and will collect in endorsements.

Glad they scrapped together that $2M*

 

[CommuterBob]

Did you think LeBron James was personally bankrolling an entire school?

The press sure made it sound that way.

 

[UCFKnight85]

Here's an entire fake news CNN article on the school, where not one is it mentioned that the overwhelming cost falls on taxpayers.

https://www.cnn.com/2018/08/04/us/lebron-james-opens-school-trnd/index.html

In fact, they went ahead and framed all of these goodies as "free" thanks to THE KING!

According to James, in addition to attending a school run by The King, students will also receive:

• Free tuition
• Free uniforms
• Free breakfast, lunch and snacks
• Free transportation within 2 miles
• A free bicycle and helmet
• Access to a food pantry for their family
• Guaranteed tuition for all graduates to the University of Akron

 

[CommuterBob]

Here's an entire fake news CNN article on the school, where not one is it mentioned that the overwhelming cost falls on taxpayers.

https://www.cnn.com/2018/08/04/us/lebron-james-opens-school-trnd/index.html

In fact, they went ahead and framed all of these goodies as "free" thanks to THE KING!

According to James, in addition to attending a school run by The King, students will also receive:

• Free tuition
• Free uniforms
• Free breakfast, lunch and snacks
• Free transportation within 2 miles
• A free bicycle and helmet
• Access to a food pantry for their family
• Guaranteed tuition for all graduates to the University of Akron

They did say in the paragraph right above that one that the school district was a partner, but obviously gave much more attention to James, and later in the article mentioned that James has given millions to the project, although that claim is rather dubious at best.

 

[fried-chicken]

Here's an entire fake news CNN article on the school, where not one is it mentioned that the overwhelming cost falls on taxpayers.

https://www.cnn.com/2018/08/04/us/lebron-james-opens-school-trnd/index.html

In fact, they went ahead and framed all of these goodies as "free" thanks to THE KING!

According to James, in addition to attending a school run by The King, students will also receive:

• Free tuition
• Free uniforms
• Free breakfast, lunch and snacks
• Free transportation within 2 miles
• A free bicycle and helmet
• Access to a food pantry for their family
• Guaranteed tuition for all graduates to the University of Akron

It's a public school.

 

[bluechip12]

Doesn't LeBron pay tens of millions a year in taxes?

 

[NinjaKnight]

God I love Trumpets. A dude donates 2 million dollars and somehow you fukbrains are shitting on him.

 

[Happy Hands]

It's a public school.

A very expensive one. I like where James' heart is, but he needs to get some more of his rich buddies to pony up some money for this school or it won't last. The Ron Clark Academy, in downtown Atlanta is run by private donations and is pretty successful.

Having taxpayers in a poor area of Ohio pay 8 million for 240 students isn't feasible long term. That's like 3 times the average cost per student.

 

[UCFKnight85]

A very expensive one. I like where James' heart is, but he needs to get some more of his rich buddies to pony up some money for this school or it won't last. The Ron Clark Academy, in downtown Atlanta is run by private donations and is pretty successful.

Having taxpayers in a poor area of Ohio pay 8 million for 240 students isn't feasible long term. That's like 3 times the average cost per student.

This. Not to mention it will suck away resources from other schools in the area.

 

[fried-chicken]

This. Not to mention it will suck away resources from other schools in the area.

You've taken minutes to decide that this won't work while professional school administrators have likely spent months on feasibility analysis. But I'm sure you know what the hell you're talking about, as is evidenced by your colossal ineptitude on understanding basic concepts.

 

[UCFKnight85]

You've taken minutes to decide that this won't work while professional school administrators have likely spent months on feasibility analysis. But I'm sure you know what the hell you're talking about, as is evidenced by your colossal ineptitude on understanding basic concepts.

No, I've taken minutes to point out what a lie the entire narrative around this school has been.

Maybe it'll work. Afterall, local school administrations never get things wrong! I hope it works for the sake of those kids but I don't really see how adding on an additional $8M burden to a poor school district is going to lift all tides.

 

[CommuterBob]

A very expensive one. I like where James' heart is, but he needs to get some more of his rich buddies to pony up some money for this school or it won't last. The Ron Clark Academy, in downtown Atlanta is run by private donations and is pretty successful.

Having taxpayers in a poor area of Ohio pay 8 million for 240 students isn't feasible long term. That's like 3 times the average cost per student.

240 is only the initial enrollment, and the full enrollment of about 1500 would cost the full $8M/yr to the district. Also, the district isn't increasing its spending for this school, at least not yet. Their budget remained the same from last year.

 

[Happy Hands]

240 is only the initial enrollment, and the full enrollment of about 1500 would cost the full $8M/yr to the district. Also, the district isn't increasing its spending for this school, at least not yet. Their budget remained the same from last year.

If that's true, then carry on. Nothing to see here. A school full at rick students would probably need more funding, but good luck to those kids.

 

[UCFKnight85]

240 is only the initial enrollment, and the full enrollment of about 1500 would cost the full $8M/yr to the district. Also, the district isn't increasing its spending for this school, at least not yet. Their budget remained the same from last year.

1500 students at $8M year would yield $5,333 per pupil. The state average in Ohio is $9,500 per pupil.

To get back to just the state average, that $8M would have to become $15M to service 1,500 kids. And that's just the average, nothing "above and beyond" about it.

 

[btbones]

I will say I think Lebron is a good human being who wants to do good . It would not surprise me if the misleading headlines were not his doing . While the taxpayers are on the hook for the largest part obviously , at least he got something done that was a net positive

 

[UCFWayne]

when this first came out i thought it was really cool. i actually thought better of lebron for doing this. i mean $2m is still a great deal of money for anyone to donate. i just hope this doesnt end up sucking resources from other schools in the area just so he could get some good publicity.

 

[UCFKnight85]

I will say I think Lebron is a good human being who wants to do good . It would not surprise me if the misleading headlines were not his doing . While the taxpayers are on the hook for the largest part obviously , at least he got something done that was a net positive

I hear you. But why doesn't he just fund it as a charter or private?

The guy signed an endorsement deal, for life, that is valued at over $1B. His new Lakers contract is for $360M over 10 years. We're talking supposedly about a total of $8-15M (depending on student size) to operate this annually. Hell, he could easily just fund half of that and start an investment fund together with other NBA players and fund the other half with that.

That's a far better prospectus than throwing in $2M and telling this school district to pick up the $8-15M annual tab.

 

[Knight_Light]

Also, LeBron's future portion will come from his Foundation...which is made up of mostly corp and even individual donations...so LeBron won't have to dip much if anything out of his own pocket in future years.

PS. This school is still a good idea...and an idea Marc Daniels noted is that the school missed a GREAT chance during LeBron's CNN Interview on its opening that the school district is looking for more "partnerships" with other corporations or foundations...(i.e. they wouldn't have to foot the full bill...but the interviews made it seem they would).

 

[Sir Galahad]

Doesn't LeBron pay tens of millions a year in taxes?

Very doubtful and even if he did, little would go to Akron.

 

[knightbeer]

I think most folks think it's cool and nice gift from LeBron. That said, the media (and most likely LeBron) have described it like he's footing the entire bill. I bet if you walked around the street and did a poll, most people would think that he's funding all of it.

I believe frustration is because if Trump or his son or his daughter did the same exact deed....the media would be all over the details and crucify the act. There would be detailed reports on why the community will be strangled by it and he only did it was a PR stunt. There is wacky double standard.

Hell, the first lady cant even give away Dr. Seuss books without it being an evil act of racism. Despite the fact that Michelle Obama celebrated Dr. Seuss' birthday by reading his books with Cat-in-the-Hat costumes and it was reported as an act of heavenly kindness.

 

[sk8knight]

Doesn't LeBron pay tens of millions a year in taxes?

Yeah, but most of that is federal and education budgets are state and local. For some reason, he maintained his residence in Akron even when he was a member of the Heat and could've relocated to income-tax-free Florida, so he has been paying the state income taxes of almost 5% and also Akron's local tax on wages of 2.5% (I've read that his endorsement money is excluded from both). Assuming that he maintains the residence and his income in LA and elsewhere is state and local taxable, rough math has those taxes at about $2.7 million. Even if you applied it all, that amount wouldn't fund even this school.