Alford says he won't pay $1M buyout to New Mexico
April 30, 2013
By The Associated Press
ALBUQUERQUE, N.M. (AP) - A University of New Mexico official says former Lobos basketball coach Steve Alford is willing to pay a $200,000 buyout for leaving the Albuquerque school to take a job at UCLA but he won't pay the $1 million payment that New Mexico wants.
According to the Albuquerque Journal (http://bit.ly/14L4Aaj ), an email written by a university lawyer says Alford is offering to comply with terms of his previous contract with New Mexico.
Alford on March 18 signed a term sheet agreeing to a new 10-year contract with New Mexico that included a $1 million buyout. It was to take effect April 1, two days after Alford announced his resignation.
New Mexico contends it's owed the $1 million buyout because the previous contract required a 30-day notice of termination.
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