Steve Alford and New Mexico agree on buyout
By Daily Bruin
May 19, 2013 1:10 p.m.
Late last week, the University of New Mexico and Steve Alford reached an agreement on a buyout that has been disputed since March, when he left New Mexico to become UCLA’s men’s basketball coach.
A contract that Alford signed with New Mexico included a $1 million buyout, but Alford said that since the contract had not officially taken effect when he left the school, he would only pay $200,000.
The $200,000 figure came from Alford’s previous contract, while the $1 million buyout total came from the newer contract. Though Alford left four days before the new contract took effect, it called for a 30-day notice of termination, which New Mexico wanted him to pay since those 30 days ended after the contract had taken effect.
A release from New Mexico last week said that they had reached an agreement on a $625,000 total, but a UCLA release clarified that the Lobos actually agreed to accept $300,000 from Alford, with the additional money coming from bonuses that the coach would have received had he stayed.
“While there has not been a signed agreement, New Mexico has agreed to accept $300,000 of their original $1 million demand. A larger figure included in UNM’s release appears to include certain bonuses which Coach Alford previously agreed to forego when he decided to terminate his contract there and accept the offer from UCLA,” the statement said.
Compiled by Emma Coghlan, Bruin Sports senior staff.
