[Ed. – Interesting to name the project ‘I Promise’ … and then fail to come through with the cash. By the way, ‘King’ James’s net worth is estimated at $440 million.]
You wouldn’t know from all the national coverage that LeBron James isn’t paying for everything at his new I Promise School in Akron.
He’s paying for part of it. A good part of it.
But it’s also a public school within the Akron school district, which means that taxpayers will pay for the bulk of the costs.
The exact breakdown of expenses for the new I Promise School is unclear, since the district and the LeBron James Family Foundation are still sorting out final details of their contract. But the district will pay more than half the costs – perhaps around 75 percent – once it is fully running.
District officials are walking a fine line this week as they try to explain how the new school, which aims to help at-risk students, will work.
On the one hand, James and his foundation are making a huge gift to the city and its students to complete a vision James says he has been developing for years.