The New Mexico men’s basketball program will embrace a difficult financial situation after the firing of the four-year head coach Craig Neal Friday night.
Albuquerque Journal’s Geoff Grammer said in an interview on 610 KNML Albuquerque Saturday morning that New Mexico athletics would not fund Neal’s $1,000,000 buyout.
Buyout terms were not changed on final deal. UNM owes Craig Neal $500K this fiscal year, $500K next. Final decision made around 11 p.m. FRI
— Geoff Grammer (@GeoffGrammer) April 1, 2017
It appears that New Mexico athletic director Paul Krebs had no intention of firing Neal as recent as just three weeks ago, but after Elijah Brown, Sam Logwood, Joe Furstinger and Anthony Mathis announced that they would transfer, Krebs had no better decision than to let go of Neal.
Money aside, getting rid of Neal has been on the minds of Lobo fans for quite some time. Though New Mexico won 27 games and reached the NCAA Tournament in Neal’s first season as head coach, the following three seasons amounted to a mediocre 49-45 record.
UPDATE:
A later report by Geoff Grammer says that Krebs anticipates that the buyout will, in fact, be covered by the athletic program.