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‘Taxpayers Should Know It’s Their Investment Too’: Crunching the Numbers on LeBron James’ New School

After praise over NBA star, LeBron James’, opening of the I Promise School, it has been revealed that he actually isn’t providing the funds for everything — leaving taxpayers paying the bulk.

James’ new school is for at-risk kids in Akron, Ohio.

The school will cost taxpayers about four times the amount the LeBron James Family Foundation will fund per school year.

Although James and his foundation have put millions into the district in past years, once the public school is fully running, the district could be paying up to 75 percent of the cost, according to The Plain Dealer.

“The coverage made it look like the whole thing is his,” district spokesman Mark Williamson said. “He did a lot, but taxpayers should know it’s their investment too.”

https://twitter.com/huff_scott/status/1026215864939503618

In completing his vision, James’ foundation is spending $2 million the first year and will continue to spend $2 million or more annually once the school reaches capacity.

The I Promise School is a district school, which means it’s a public school, but is funded through tax dollars and is privately run.

The school will be run by the district, which will include hire and pay, buses to school, and free breakfasts and lunches.

The eventual cost of about $8 million a year to run will come out of the district’s budget.

Contract details are still being finalized by district officials.

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1 Comment

1 Comment

  1. Matthew V. Brown

    August 8, 2018 at 6:04 am

    Figures! Yet another public-private “partnership” where the public picks up the lion’s share of the load.

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