Alford Says He Won’t Pay $1M Buyout To New Mexico

ALBUQUERQUE, N.M. (AP) — 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 after 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.

(TM and © Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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