suntimes
SOAKING 
Weather Updates

Steve Alford refuses to pay $1M buyout to New Mexico

ALBUQUERQUE, N.M. — A University of New Mexico official says former Lobos basketball coach Steve Alford is willing to pay a $200,000 buyout for leaving the Albuquerque school to take a job at UCLA but he won’t pay the $1 million payment that New Mexico wants.

According to the Albuquerque Journal, an email written by a university lawyer says Alford is offering to comply with terms of his previous contract with New Mexico.

Alford on March 18 signed a term sheet agreeing to a new 10-year contract with New Mexico that included a $1 million buyout. It was to take effect April 1, two days Alford announced his resignation.

New Mexico contends it’s owed the $1 million buyout because the previous contract required a 30-day notice of termination.



© 2014 Sun-Times Media, LLC. All rights reserved. This material may not be copied or distributed without permission. For more information about reprints and permissions, visit www.suntimesreprints.com. To order a reprint of this article, click here.