Steve Alford and New Mexico should be together for a long time based on the terms of a 10-year contract extension announced Wednesday, 24 hours before Alford leads the third-seeded Lobos into the NCAA Tournament.
Alford's deal officially begins April 1 and includes a raise of $240,000, plus a hefty $1 million buyout if the coach leaves before April 1, 2015. The buyout drops to $500,000 after April 1, 2015.
The Lobos are 29-5 this season and were ranked throughout the season in the two primary national polls.
New Mexico hasn't been to the Sweet 16 in 29 years, but a successful run in the 2013 tournament would likely have drawn suitors, including possible interest from Southern Cal.
In signing the deal, "Alford agrees not to open salary discussions for a four-year period," the school said in a release announcing the deal.
The new incentives outlined in the term sheet produced by New Mexico include $50,000 for winning the conference championship, $50,000 for the conference tournament championship, $60,000 for reaching the Sweet 16, $75,000 for the Elite Eight and $125,000 if New Mexico makes the Final Four.