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Buyout to net New Mexico $625K

Updated: May 17, 2013, 8:05 PM ET
Associated Press

ALBUQUERQUE, N.M. -- The University of New Mexico says it has reached an agreement in principal with former basketball coach Steve Alford over his buyout.

Alford said in April he was willing to pay a $200,000 buyout for leaving the Albuquerque school to take the job at UCLA, but he wouldn't pay the $1 million payment that New Mexico wanted.

The dispute stemmed from the timing of his announcement and a term sheet he had signed just weeks before agreeing to a new 10-year contract with ...

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