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.
Apr 18, 2015, 11:58 AM EDT
Illinois landed a huge graduate transfer on Saturday.
Apr 18, 2015, 10:45 AM EDT
Coppin State junior guard Sterling Smith is looking like a prime graduate transfer.
Apr 18, 2015, 9:35 AM EDT
Kentucky five-star big man Skal Labissiere believes that the NCAA will allow him to play this season.
Apr 17, 2015, 10:23 PM EDT
Cheick Diallo won named MVP for both the McDonald’s All-American Game and Jordan Brand Classic.
Apr 17, 2015, 9:30 PM EDT
Hoiberg just completed his fifth season at Iowa State.
Apr 17, 2015, 8:20 PM EDT
The Aztecs now have no commits for 2016.
Apr 17, 2015, 7:18 PM EDT
Domantas Sabonis previously announced he would return.
Apr 17, 2015, 6:05 PM EDT
The Jordan Brand Classic is Friday night at the Barclays Center in Brooklyn.
Apr 17, 2015, 5:00 PM EDT
The former Villanova guard cut his list to eight.
Apr 17, 2015, 4:23 PM EDT
Thanks to this ruling Neal will have three years of eligibility remaining.
Apr 17, 2015, 3:19 PM EDT
Heron, who committed to Pitt back in January 2014, says he will continue to consider Jamie Dixon’s program.
Apr 17, 2015, 1:31 PM EDT
Dazon Ingram joins Brandon Austin and Donta Hall, both of whom remained committed following the firing of Anthony Grant, in Alabama’s 2015 class.
Former Florida guard discusses Billy Donovan’s potential as an NBA head coach on ‘Dan Patrick Show’ (VIDEO)
Apr 17, 2015, 12:45 PM EDT
Beal spoke highly of his college coach, including how a possible adjustment would go should Donovan decide to try his hand at the NBA game.
Apr 17, 2015, 12:19 PM EDT
Harris is the fifth departure from the Kansas State program since the end of the season.
Apr 17, 2015, 11:02 AM EDT
Hooley’s game-winning shot in the America East title game came less than two months after his mother passed from a lengthy bout with colon cancer.
Apr 17, 2015, 12:04 AM EDT
Hale is Alabama’s leading returning scorer, as he averaged 8.2 points per game last season.
Apr 16, 2015, 11:51 PM EDT
Landing Zimmerman is a big deal for Dave Rice, who could use the boost after a disappointing 2014-15.
Apr 16, 2015, 10:56 PM EDT
Michigan won’t lack for big men when Davis arrives on campus in 2016, but that will give him time to develop as a freshman.
Apr 16, 2015, 8:02 PM EDT
Costello dealt with the knee issue down the stretch, but the procedure isn’t expected to keep him out of offseason workouts for too long.
Apr 16, 2015, 6:32 PM EDT
The Mountain West is guaranteed one of the eight slots in the field.
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