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 24, 2014, 4:49 PM EDT
Arizona State lands its seventh newcomer for the 2014-15 season as forward Willie Atwood picked the Sun Devils over Florida State and Iowa.
Apr 24, 2014, 4:13 PM EDT
The NCAA’s Board of Directors released some key decisions on Thursday.
Apr 24, 2014, 4:12 PM EDT
Colorado junior guard Spencer Dinwiddie has decided to enter the 2014 NBA Draft.
Apr 24, 2014, 3:12 PM EDT
Dan D’Antoni spent 30 years as a high school coach in South Carolina.
Apr 24, 2014, 2:23 PM EDT
Parker is not a fan of forcing players to stay in school for two years.
Apr 24, 2014, 1:45 PM EDT
There are reports he’s already signed with an agent.
Apr 24, 2014, 12:35 PM EDT
The seven-footer will miss some time getting a torn labrum repaired.
Apr 24, 2014, 11:56 AM EDT
Roy Williams is not the world’s greatest dancer.
Apr 24, 2014, 11:25 AM EDT
Kentucky, Kansas and just about every elite program in the country is on the trail of the Haitian.
Apr 24, 2014, 10:39 AM EDT
It’s pretty funnyl
Apr 24, 2014, 12:57 AM EDT
According to multiple reports, former Georgetown big Moses Ayegba has decided to transfer to Nebraska.
Apr 24, 2014, 12:17 AM EDT
According to a report, UConn center Amida Brimah will need to undergo surgery on his left shoulder.
Apr 23, 2014, 10:38 PM EDT
Shaka Smart filled a vacancy on his staff Wednesday, hiring former Vanderbilt assistant David Cason.
Apr 23, 2014, 9:04 PM EDT
Less than a week after making an official visit to the school, it was reported that Malek Harris had committed to Kansas State. But that may not be the case.
Apr 23, 2014, 7:49 PM EDT
Frank Haith announced his coaching staff Wednesday, with the trio combining to have more than 90 seasons of coaching experience.
Apr 23, 2014, 6:33 PM EDT
UConn and Duke will reportedly play each other just before Christmas in New Jersey.
Apr 23, 2014, 5:23 PM EDT
Former St. John’s commit Darrick Wood verbally committed to attend DePaul on Wednesday.
Apr 23, 2014, 4:22 PM EDT
After playing well in Kentucky’s run to the national title game, Dakari Johnson has decided to return for his sophomore season.
Apr 23, 2014, 3:52 PM EDT
LSU should have the pieces to be a tournament team in 2014-2015.
Apr 23, 2014, 2:54 PM EDT
Minnesota landed a commitment from a 6-foot-11 three-star recruit.
- Jabari Parker on a potential move to two-and-done: ‘I think that’s ridiculous’ 4
- John Calipari appears on ‘The Colbert Report’ (VIDEO) 0
- Auburn will not appeal Bruce Pearl’s show-cause penalty 3
- Kentucky freshman Julius Randle entering NBA Draft 0
- ACC’s league schedule highlights the flaws of massive power conferences 4
- Report: Tennessee hires Southern Miss coach Donnie Tyndall 1
- Rice transfer Sean Obi commits to Duke 1
- #UMassUnited: Thousands show to support Derrick Gordon during Westboro Baptist Church protest (18)
- Reports: Missouri’s Frank Haith agrees to take the Tulsa job (11)
- Jabari Parker is headed to the NBA (9)
- Adam Silver says raising NBA’s age limit a top priority (7)
- Former Marquette commits Ahmed Hill, Satchel Pierce follow Buzz Williams to Virginia Tech (7)