|Alford buyout agreement to net New Mexico $625K|
|Written by Admin|
|Friday, 17 May 2013 12:35|
Alford said in April he was willing to pay a $200,000 buyout for leaving the Albuquerque school to take the job at UCLA, but he wouldn't pay the $1 million payment that New Mexico wanted.
The dispute stemmed from the timing of his announcement and a term sheet he had signed just weeks before agreeing to a new 10-year contract with New Mexico that included a $1 million buyout.
Under the agreement announced Friday, the net benefit of the buyout will be $625,000.
The school says there are still some final details that have to be resolved, but it sees the agreement as favorable.