Steve Alford, New Mexico, and the Battle of the Buyout
When Steve Alford initially left New Mexico to take the UCLA head coaching job, it looked like he had exemplary timing.
Alford had signed an offer sheet for a new, 10-year contract that was to go into effect on April 1st. He resigned on March 30th. His old contract’s buyout was $200,000, according to the Albuquerque Journal. His new contract’s buyout is $1 million.
Smart, right? Get the UCLA job and save yourself $800,000 in the process.
The problem is that New Mexico doesn’t see it that way. The old contract, which Alford has said that he will honor, included a 30-day notice of termination requirement. So according to UNM, Alford’s last day was actually on Monday, which means that the new contract had gone into effect and that he owes to school the full $1 million buyout.
Alford has not made any payments towards the buyout yet.
This isn’t going to be solved until the lawyers get involved.
You can find Rob on twitter @RobDauster.