Skip to content

New Mexico, former coach Steve Alford settle buyout dispute

May 17, 2013, 6:48 PM EDT

In the immediate aftermath of Steve Alford’s decision to leave New Mexico to take over as head coach at UCLA, many wondered how much would he have to pay UNM in order to get out of his contract.

While Alford and his representation argued that the coach, who led the Lobos to four Mountain West regular season titles and three NCAA tournament appearances, owed the school just $200,000 UNM stated that he owed $1 million.

Friday the two parties came to a resolution, as the school announced that the end result is a “net benefit of approximately $625,000″ according to Geoff Grammer of the Albuquerque Journal.

“On Friday afternoon, the University of New Mexico issued a news release stating that they had reached a buyout agreement with their former Men’s Basketball Coach, Steve Alford, who last month accepted the head coaching job at UCLA,” read an emailed statement UCLA sent the Journal on Friday afternoon. “The UNM news release does require some clarification. 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.”

Alford agreed to take the UCLA job on March 30, one day before the $1 million buyout as stipulated in the contract extension Alford signed earlier in the month would go into effect. That was the basis for Alford’s argument that he only had to pay the buyout in his prior contract.

However, according to Grammer’s report, UNM argued that because Alford did not give 30 days notice required in both contracts (the new contract was slated to go into effect on April 1) “he was still employed by the university through April 29 and the new contract was in effect.”

In the end the best thing to do was to solve the dispute without going to court, as it allows both sides to move forward. With an agreement now in place, Alford can continue to build his program at UCLA and New Mexico can proceed with the Craig Neal era.

Raphielle can be followed on Twitter at @raphiellej.

Latest Posts
  1. SMU and Gonzaga close to agreement for home-and-home beginning this season

    Apr 15, 2014, 10:13 PM EDT

    AP AP

    The Mustangs and Bulldogs are looking to meet in a home-and-home series.

  2. Royce Woolridge to transfer from Washington State

    Apr 15, 2014, 7:08 PM EDT

    Royce Woolridge Royce Woolridge

    Washington State loses three players, including a starting guard.

  3. NCAA approves unlimited meals and snacks for Division I student-athletes

    Apr 15, 2014, 6:11 PM EDT

    NCAA_Logo AP

    The NCAA approved a rule change that will benefit student-athletes.

  4. Branden Dawson to return to Michigan State for senior season

    Apr 15, 2014, 5:43 PM EDT

    AP AP

    Tom Izzo returns a key player from last season’s 29-win team.

  5. Arizona loses Aaron Gordon and Nick Johnson to the 2014 NBA Draft

    Apr 15, 2014, 5:17 PM EDT

    AP AP

    A pair of starters will leave Arizona following an Elite 8 appearance.

  6. Michigan duo Nik Stauskas and Glenn Robinson III declare for 2014 NBA Draft

    Apr 15, 2014, 4:20 PM EDT

    AP AP

    The Big Ten regular season champion has lost two underclassmen to the NBA draft with the possibility of a third departure as well.

  7. Cuonzo Martin and Tennessee parting ways is good for everyone involved

    Apr 15, 2014, 3:56 PM EDT

    AP Photo AP Photo

    Cuonzo Martin and Tennessee was a marriage that needed to end. On Tuesday, it did.

  8. Report: Cuonzo Martin to become the new head coach at California

    Apr 15, 2014, 1:23 PM EDT

    AP Photo AP Photo

    Cal dipped into SEC territory to land their new head coach.

  9. Lawyer involved in Miami’s NCAA case accused of ethics violations

    Apr 15, 2014, 1:09 PM EDT

    NCAA_Logo AP

    The Miami investigation keeps getting more embarrassing for the NCAA.

  10. Kentucky-signee Karl Towns’ Hoop Summit mixtape (VIDEO)

    Apr 15, 2014, 12:19 PM EDT

    2014 McDonald's All American Game Getty Images

    The future Kentucky Wildcat had an impressive showing at the Hoop Summit last weekend.

  11. Report: Domantas Sabonis, Arvydas’ son, leaning towards leaving Spain for Gonzaga

    Apr 15, 2014, 11:32 AM EDT

    images (1)

    Gonzaga is close to landing the son of another legend of the 80s

  12. Syracuse lands third commitment in 2015 with guard Franklin Howard (VIDEO)

    Apr 14, 2014, 11:37 PM EDT

    AP Photo AP

    Syracuse landed another 2015 pledge on Monday evening when guard Franklin Howard committed to the Orange.

  13. Report: Duke’s Jabari Parker will make 2014 NBA Draft decision on Wednesday

    Apr 14, 2014, 10:48 PM EDT

    AP Photo AP

    Duke freshman forward Jabari Parker will decide on his future this week.

  14. Report: Washington guard Nigel Williams-Goss returning for sophomore season

    Apr 14, 2014, 9:11 PM EDT

    Nigel Williams-Goss, Richard Solomon Nigel Williams-Goss, Richard Solomon

    Washington point guard Nigel Williams-Goss will return for his sophomore season.

  15. Cornell transfer Nolan Cressler commits to Vanderbilt

    Apr 14, 2014, 8:28 PM EDT

    Cornell v Notre Dame Cornell v Notre Dame

    Cornell transfer Nolan Cressler has committed to Vanderbilt.

Featured video

Derrick Gordon says 'Why not me?'