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UCLA, New Mexico still at odds over Steve Alford's buyout

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09:00 AM ET 05.18 | The University of New Mexico and former men's basketball coach Steve Alford have reached an agreement in principle on the buyout he owes his former employer. UNM issued a news release Friday stating the buyout amount plus savings of deferred compensation payments, incentive bonuses would net the university a "favorable" outcome of $625,000. UNM had demanded $1 million and Alford had offered $200,000. After sorting through who owes who what, the additional "hard" dollars Alford and his new employer, UCLA, will owe UNM come to $300,000. UCLA, meanwhile, said it was blindsided Friday afternoon by UNM's announcement. The two sides have not yet signed any agreements, and UCLA made it clear that it is not paying the $625,000 initial media reports implied in UNM's statement. "On Friday afternoon, the University of New Mexico issued a news release stating that they had reached a buyout agreement with their former Men's Basketball Coach, Steve Alford, who last month accepted the head coaching job at UCLA," read an emailed statement UCLA sent to the Journal on Friday. "The UNM news release does require some clarification. While there has not been a signed agreement, New Mexico has agreed to accept $300,000 of their original $1 million demand. A larger figure included in UNM's release appears to include certain bonuses which Coach Alford previously agreed to forego (sic) when he decided to terminate his contract there and accept the offer from UCLA."

Albuquerque Journal

Steve Alford, Streeter Lecka/Getty Images Steve Alford, Streeter Lecka/Getty Images
May 18, 2013  09:47 AM ET

A larger figure included in UNM's release appears to include certain bonuses which Coach Alford previously agreed to forego (sic) when he decided to terminate his contract there and accept the offer from UCLA."

Sounds like government accounting..."We didn't spend $50 million buying those gold plated toilet seats, so we are now $50 million ahead of where we were...so now we can spend $100 million on the tungsten hammers"

May 18, 2013  10:14 AM ET

ONLY $300,000??.. UCLA can handle that.. Alford can handle that.. they could handle the $1 million if they wanted to.. UNM should have held out for more

May 18, 2013  11:45 AM ET

Made my head spin. Too early in the morning to read a novel.

May 18, 2013  12:22 PM ET

Maybe they should try being at evens instead of odds.

 
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