Nick Saban sold $3.1 million home — to Alabama boosters foundation

Nick Saban is not describing the size of his paycheck. (Vasha Hunt / AL.com / AP)

It’s good to be Nick Saban. Terrifically, financial-windfally good.

In spite of being paid over $7 million a year as Alabama coach, Saban was deemed by the Crimson Tide Foundation to need a little sumthin’ sumthin’ extra — and the non-profit purchased his $3.1-million home from him in January 2013.

The foundation, according to AL.com,paid off the loan on the 8,759-square-foot home that Saban and his wife bought in 2007 not long after ‘Bama won the national title. The couple continues to live in the home, with the property-tax bill going to the foundation. The perk is one the foundation extended to the school’s late, legendary football coach Bear Bryant and the money came from a general fund, not a specific booster.

“It’s not all that unusual in the world for universities to provide the housing,” Scott Phelps, assistant secretary of the foundation, told AL.com. “We want to keep him happy. We think he is the best coach in America.”

The foundation is, according to its website, a nonprofit created in 2003 to  work with the athletic department “by raising private funds and providing necessary resources to achieve success.” Money goes to scholarships, to endow coaching positions and for the renovation/construction of athletic facilities.

Saban and his family will be allowed to live in the four-bedroom, 4 1/2-bathroom house, which sits on 1.26 acres, after he retires.