The New Mexico Lobos and Steve Alford are still trying to figure out what the buyout Alford will pay. Back on April 5, the school sent a letter to Alford saying that he will owe a $1 million buyout he agreed to when he signed the term sheet.
However, Alford says he does not owe $1 million but rather $200,000. The details of the term sheet were to have Alford pay $1 million if he takes another job after April 1, well Alford took the UCLA job on March 30, and therefore believes he owes just the $150,000.
Alford finally spoke publicly on the situation when he emailed New Mexico -- which was obtained by the Albuquerque Journal -- and said, "he offered to comply with the terms of his previous contract" and its $150,000 buyout and that "he believes his last day was March 30."
That tells just part of the story because Alford has a clause in his contract that states he must give 30 days notice before taking another job. He took the UCLA job on March 30 and so his last day was technically 30 days later and past April 1 which is when his new contract would have already taken into affect.
New Mexico is considering taking Alford to arbitration to decide on what he owes to the Lobos.
John Infante best known for the By Law Blog believes that what Alford signed is a contract. Here is an exchange between him and Andy Glockner of Sports Illustrated on the topic.
@andyglockner They agreed to and signed a contract. Now just arguing over terms.— John Infante (@John_Infante) April 30, 2013
@andyglockner Legally what he signed was a contract.— John Infante (@John_Infante) April 30, 2013