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coaching contract buyout

Buyouts – Coaching Free Agency

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A university has a vested interest to see that coaches’ contracts are contractually fulfilled, to prevent movement of a coach to a same or similar position during the term of the contract, especially within the same Conference, to prevent use of trade secrets or confidential information obtained during the coaching tenure, to prevent solicitation of enrolled student-athletes or recruits, and to minimize the outrageous costs of replacement.

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Steve Alford – POSTSCRIPT – An Expensive Buyout Provision

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At the time I wrote the article in Greenberg's Coaching Corner entitled "Steve Alford - Coaching Free Agency is Just a Matter of Money," Steve Alford's (Alford) completed UCLA contract was not available. A contract entitled Full Time Coach, Talent Fee & Camp Agreement - Men's Basketball dated as of March 30, 2013, by and between The Regents of the University of California and Steve Alford was recently released pursuant to an open records request. In that article I referenced a statement by UCLA Athletic Director Dan Guerrero that Alford would receive a $200,000 signing bonus, which was the amount Alford claimed he owed University of New Mexico (UNM) by virtue of his early termination. On May 17, 2013, it was announced that UNM had agreed to accept $300,000 of their original million dollar demand for early termination as a result of the Term Sheet executed by Alford on March 18, 2013. UNM also announced that the settlement resulted in a net benefit of approximately $625,000 to UNM. The additional $325,000 represented compensation that was not paid to Alford in the form of bonuses, incentives, and deferred compensation.

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