Report: Alford's UCLA deal contains large buyout
UCLA basketball fans should get used to the sight of Steve Alford pacing the court for at least three years, thanks to a large mutual buyout should either side sever ties early, according to a Los Angeles Times report.
Alford's contract contains a $10.6 million buyout provision should either side decide to end their relationship before April 30, 2016, more than four times his annual pay. After that, the amount shrinks each year, to $7.8 million, $5.2 million in 2017 and 2018, respectively, then $2.6 million after years five and six of the seven-year, $18.2 million deal, the paper said.
The deal likely binds the two parties into at least a three-year marriage, as Alford replaces Ben Howland. The large amount is likely a result of Alford's previous departure from the University of New Mexico, when the 48-year-old coach left the school two weeks after agreeing to a contract extension. His signing ignited a debate over how much he owed his former boss to purchase his contract.
