Alford buyout agreement to net New Mexico $625K
May 17, 2013
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.
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. That includes a $300,000 payment and certain bonuses Alford had agreed to forego.
The school says there are still some final details that have to be resolved, but it sees the agreement as favorable.
Copyright 2017 by STATS LLC and Associated Press.
Any commercial use or distribution without the express written
consent of STATS LLC and Associated Press is strictly prohibited.
12-2 L14 Guarantees, 13-3 L6 Days
10-2 Run, 31-15 G-Plays, +2,235 TY
12-3 L15, 22-7 Picks, 13-3 G-Plays
11-2 GPlays, 13-4 Run, 43-21 L64
9-4 L13 Totals, +2,724 Overall TY
4-1 L5 Picks, 9-2 L11 G-Plays
4-2 Last Night, +2,331 TY
3-0 L3 Days, 11-4 L15 Guarantees
4-1 Last 5 CBK Selections
6-2 L4 Days, 61% +1,367 TY
With a VI Gold Membership, you can SAVE 10%
off a Live Odds subscription, SAVE 20%
off Daily Pick packages, and receive access to up to 1,000
Member Plays each month!