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.
Oct 22, 2014, 10:14 PM EDT
Wisconsin held its third annual “Shooting Down Cancer” event Wednesday, with their goal being to #MakeBoPay.
Oct 22, 2014, 9:13 PM EDT
Austin Nichols is the reigning American Athletic Conference ROY, and sophomore Avery Woodson is expected to compete for minutes in a crowded by inexperienced backcourt.
Oct 22, 2014, 7:03 PM EDT
Cezar Guerrero knocked down five straight from half-court during the team’s Red and White Hoops Night event Tuesday.
Oct 22, 2014, 6:43 PM EDT
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Oct 22, 2014, 5:00 PM EDT
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Oct 22, 2014, 4:25 PM EDT
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Oct 22, 2014, 4:06 PM EDT
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Oct 22, 2014, 3:18 PM EDT
The Longhorns are the first school in the country to do this.
Oct 22, 2014, 2:55 PM EDT
The Cardinal now have three four-star recruits in the Class of 2015.
Oct 22, 2014, 2:09 PM EDT
Wednesday’s report is much more damning than either of the previous two that have been released.
Oct 22, 2014, 1:00 PM EDT
There is one big name that wasn’t named to the preseason first team.
Oct 22, 2014, 12:00 PM EDT
The top half of the Summit League will be a tight race all season long.
Oct 22, 2014, 11:00 AM EDT
The Big East coaches love Villanova, but are they sleeping on Marquette?
Oct 22, 2014, 10:00 AM EDT
ULM has some off-the-court issues to address with the season looming.
Oct 22, 2014, 9:00 AM EDT
Fun fact about Shaka Smart: He has still never won a conference regular season title.
Oct 21, 2014, 11:00 PM EDT
Stanford’s back court depth took a hit this week.
Oct 21, 2014, 9:45 PM EDT
Suspensions have been handed down for two James Madison players involved in a fall altercation.
Oct 21, 2014, 8:38 PM EDT
Nebraska has been recruiting the state of Illinois very hard and it paid off with a 2016 commitment.
Oct 21, 2014, 8:15 PM EDT
Kansas State has taken a hit to its front court depth this week.
Oct 21, 2014, 7:15 PM EDT
Florida’s backcourt depth received a big boost this week.
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