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.
Steve Alford became the head basketball coach at the University of New Mexico (UNM) on March 23, 2007, replacing the fired Ritchie McKay. During his stay at the UNM he amassed 155 wins and 52 losses. Alford executed his first contract with UMN on June 26, 2007. Paragraph 7 of that contract, entitled, Termination by Request of Coach Alford, stated: Coach Alford may terminate this Agreement at any time upon thirty days notice to the VPIA. In the event that Coach Alford voluntarily terminates this agreement, the University shall have no further liability except for base salary and benefits accrued to the date of termination, a pro rata share of the Other Compensation described in paragraph 3.b.5, above, but there shall not be any liability as to the Deferred Compensation except, and only, as provided in paragraph 3d, above.