Steve Alford's email to UNM regarding buyout - Albuquerque Journal

Steve Alford's email to UNM regarding buyout

Here is the email former UNM basketball coach Steve Alford sent to UNM associated counsel Kimberly N. Bell regarding his buyout clause and his intentions to repay $200,000, not the $1 million the school seeks (CLICK HERE for article on the matter from Tuesday’s Journal):

Dear Ms. Bell:

I understand that UNM is taking the position that my resignation was not effective on March 30 and that I will continue as a University employee until April 29 or 30. I also understand that UNM intends to deposit money into my account representing salary from March 30 through April 29 or 30.

My resignation as Head Coach was effective March 30. I performed no services after that date and am not entitled to any salary for services rendered after March 30. I will not accept any such payment.

The Term Sheet of March 18 never became effective because UNM and I never reached agreement on a final written employment contract including those terms. My obligations and those of UNM are governed by the agreement in place before the Term Sheet.

I am not entitled to any additional deferred compensation payments from UNM. Although I performed the conditions that would have entitled me to receive additional incentive salary, my contract with UNM provides that I am not entitled to receive such incentive salary because of my contract termination. I will not accept any unpaid deferred compensation or incentive salary.

My contract with UNM provides that if I terminated the contract before March 31, 2013, I would agree to pay the sum of $200,000. I hereby offer that amount to UNM.

Steve Alford

For clarification on another matter, Alford said in a press conference in late March his buyout was $150,000, which has been referenced in media reports. The actual buyout per his former contract was $200,000.

LOBOS LINKS: Roster | Schedule/Results | Geoff Grammer’s blog


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

Nativo Sponsored Content

Ad Tango

taboola desktop

MORE ARTICLES LIKE THIS

1
'Tremendous honor': New Mexico military retiree featured in four-part ...
Blogs
Cody Ayon grew up knowing that ... Cody Ayon grew up knowing that service is a way of life.As the son of a Mexican mom an ...
2
Beautiful day for an old, blind dog
Blogs
A group of cyclists carried the ... A group of cyclists carried the weak, fragile dog down the mountain to safety – and a foster home
3
Rick Wright: Fight shows Perez needs to be in ...
Boxing/MMA
Like many people, Aaron Angel Perez ... Like many people, Aaron Angel Perez could stand to drop a few pounds. But not for the same reason as ...
4
Regents, city council give approval for south campus TIDD
ABQnews Seeker
The University of New Mexico moved ... The University of New Mexico moved a step closer to launching a massive development project on its south campus, which school officials envision will ...
5
Grammer's MWC ballot: League strong at top, Lobos and ...
ABQnews Seeker
Can we just play some hoops ... Can we just play some hoops again, already? New Mexico college basketball fans have waited long enough for their beloved Lobos and Aggies to ...
6
Family Advocacy Center brings resources together to help survivors ...
Albuquerque News
Center provides free social, legal and ... Center provides free social, legal and law enforcement services
7
Dion’s to open location in Farmington
ABQnews Seeker
Dion's will soon be landing in ... Dion's will soon be landing in the Four Corners region with the opening of a Farmington location early next year, according to the company. ...
8
ABQ physical therapy office to focus on sports rehab ...
ABQnews Seeker
Balanced Physical Therapy and Wellness has ... Balanced Physical Therapy and Wellness has expanded again, with the opening of its third location in late September.
9
Santa Fe butcher shop adds production facility in Alaska
ABQnews Seeker
A Santa Fe butcher shop and ... A Santa Fe butcher shop and meat delivery service has expanded its seafood offerings after adding a production facility in Alaska.