Alford, New Mexico in dispute over buyout
The dispute over how much Steve Alford must pay back to the University of New Mexico to leave appears far from a resolution, according to the Albuquerque Journal.
Alford agreed become UCLA's new men's basketball coach 10 days after agreeing to a 10-year extension with New Mexico. He told the Lobos Monday that he intends to comply with the terms of his previous contract, which called for a $200,000 buyout.
New Mexico maintains Alford owes $1 million as stipulated in the extension. The issue is whether the unsigned new contract had taken effect, and it will likely be decided by an independent arbitrator.
Alford's new contract was scheduled to begin April 1, two days after he announced he was leaving. Because his previous deal stipulates he will give 30 days' notice before leaving, New Mexico argues that his final day of work was 30 days after his resignation, meaning the $1 million buyout takes effect.
Alford signed an offer sheet March 18 agreeing to the extension that brings the $1 million buyout into play. His UCLA deal is for seven years, and $18.2 million.
