Lebron James has got some explaining to do. The Akron school district superintendent is BLASTING LeBron for claiming that the 'iPromise' school was funded exclusively by his pockets.
The truth is that the 'I Promise' public school that LeBron James opened for disadvantaged youngsters in his hometown of Akron, Ohio, will eventually end up costing district taxpayers roughly $8 million each year. That's because the school is NOT funded by LeBron - but by taxpayers.
The Akron school district spokesman Mark Williamson said: 'The coverage made it look like the whole thing is his. He did a lot, but taxpayers should know it's their investment too.'
Taxpayers will foot the bill because the school is a joint effort between Akron Public Schools, which covers the daily running of the school, and LeBron's foundation.
According to Cleveland.com, 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.
The foundation says it's spending about $2 million for the school's first year, including startup costs. It has also committed to spending $2 million or more a year when the school has grown to capacity. The exact amount is still to be determined.