BleedGopher
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per the LA Times:
If the basketball coach quits before April 30, 2016, he will have to pay $10.4 million to the school; the university would owe him the same amount if it fires him by that date.
UCLA fans better get used to the sight of Steve Alford. Win or lose, he's going to be around for quite some time.
That's because UCLA's new head basketball coach is bound to the program — and it to him — by a $10.4-million buyout clause worth four times his annual pay.
That stricture, unusually large by college coaching standards, is one of several eye-catching terms in Alford's contract, which had not before been made public but has been released to The Times. Also notable is his signing bonus, which at almost $850,000 is significantly larger than UCLA Athletic Director Dan Guerrero originally indicated it would be.
The huge buyout may have been prompted by the circumstances of Alford's departure from his last job, at the University of New Mexico. Less than two weeks after agreeing to a contract extension in March, the 48-year-old coach backed out, signing with UCLA and triggering a dispute over how much he owed his former employer to buy out his contract.
By saddling Alford with such a large buyout — more than 10 times what it would have been had he stayed at New Mexico — UCLA is essentially making it impossible for him to do to Westwood what he did to Albuquerque.
http://www.latimes.com/sports/la-sp-0709-steve-alford-20130709-30,0,1105902.story
Go Gophers!!
If the basketball coach quits before April 30, 2016, he will have to pay $10.4 million to the school; the university would owe him the same amount if it fires him by that date.
UCLA fans better get used to the sight of Steve Alford. Win or lose, he's going to be around for quite some time.
That's because UCLA's new head basketball coach is bound to the program — and it to him — by a $10.4-million buyout clause worth four times his annual pay.
That stricture, unusually large by college coaching standards, is one of several eye-catching terms in Alford's contract, which had not before been made public but has been released to The Times. Also notable is his signing bonus, which at almost $850,000 is significantly larger than UCLA Athletic Director Dan Guerrero originally indicated it would be.
The huge buyout may have been prompted by the circumstances of Alford's departure from his last job, at the University of New Mexico. Less than two weeks after agreeing to a contract extension in March, the 48-year-old coach backed out, signing with UCLA and triggering a dispute over how much he owed his former employer to buy out his contract.
By saddling Alford with such a large buyout — more than 10 times what it would have been had he stayed at New Mexico — UCLA is essentially making it impossible for him to do to Westwood what he did to Albuquerque.
http://www.latimes.com/sports/la-sp-0709-steve-alford-20130709-30,0,1105902.story
Go Gophers!!
