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Alford buyout to net New Mexico $625K

ALBUQUERQUE, N.M. (AP) - The University of New Mexico says it has reached an agreement in principal with former basketball coach Steve Alford over his buyout.

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Alford said in April he was willing to pay a $200,000 buyout for leaving the Albuquerque school to take the job at UCLA, but he wouldn't pay the $1 million payment that New Mexico wanted.

The dispute stemmed from the timing of his announcement and a term sheet he had signed just weeks before agreeing to a new 10-year contract with New Mexico that included a $1 million buyout.

Under the agreement announced Friday, the net benefit of the buyout will be $625,000.

The school says there are still some final details that have to be resolved, but it sees the agreement as favorable.

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