Alford buyout agreement to net New Mexico $625K
May 17, 2013
New Sportsbook.ag customers: Make your 1st bet, get your 2nd bet free, 100%, winnings paid in cash.
Already have an account? Click here to view new Exclusive Rewards!
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.
The Associated Press News Service
The Associated Press
All Rights Reserved
4-1 L5, 10-1 Run, +3,125 TY
13-3 L16, 25-8 L33, +2,648 TY
7-3 L10, 25-10 Run, 9-1 G-Plays
14-7 L21, 19-8 L27 CBK Picks
16-6 L22 G-Plays, +1,148 Picks TY
5-0 L5, 12-3 L15 Picks, +1,310 TY
12-5 Last 17 Picks, +1,249 Overall
17-3 Guarantees This Year
9-4 L2 Saturdays, 19-10 L29 Run
3-1 Saturday, 6-2 L8 G-Plays
3-1 Last Night, 4-1 Last Sat.
10-2 L12 Guaranteed Plays
6-1 L7 G-Plays, 8-4 L12 Picks
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!