Steve Alford isn’t leaving UCLA anytime soon.
According to his contract, obtained by the Los Angeles Times, Alford is tied to the school by a $10.4 million buyout — owed should either party leave the other before April 30, 2016.
That mirrored buyout drops to $7.8 million by the same date in 2017, $5.2 million in 2018, and $2.6 million in 2019. His $2.6 million-per-year contract ends in 2020.
The terms almost guarantee that the Bruins will keep Alford at least through April 2018. Such an exorbitant commitment is rare in college basketball, especially for a coach who hasn’t reached a Sweet Sixteen since 1999. Alford has also been criticized for his handling of Iowa star Pierre Pierce’s sexual assault charges in 2002, which he apologized for over a week after his April introduction at Pauley Pavilion.
Before the contract was released, a UCLA spokesperson had said that the school agreed to pay Alford’s full buyout with New Mexico, including the tax burden. The school said in May that the payout amounted to $300,000, with another $325,000 coming from Alford’s previously surrendered bonuses.
However, UCLA paid Alford a $845,615 signing bonus to compensate “for lost income … relating to his departure from his prior position.” Continue reading “Steve Alford’s UCLA contract includes mirrored $10.4 million buyout” »