SBD/July 9, 2013/CollegesPrint All
UCLA men's basketball coach Steve Alford is "bound to the program -- and it to him" -- by a $10.4M buyout clause "worth four times his annual pay," according to Ken Bensinger of the L.A. TIMES. That stricture is "one of several eye-catching terms in Alford's contract." Also notable is his "signing bonus, which at almost $850,000 is significantly larger than" UCLA AD 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 Univ. 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." UCLA is "essentially making it impossible for him to do to Westwood what he did to Albuquerque." Under the final contract terms, Alford will receive $2.6M "a year for seven years." He is eligible for "up to $450,000 a year in incentive and retention bonuses at UCLA, including $75,000 for winning the national championship." There is "one academic incentive, of $10,000, for achieving a team Academic Progress Rate score of above 925." UCLA is "providing Alford two BMWs, a country club membership and a discounted home loan and will cover the cost of his wife's travel to out-of-town basketball events." Alford is required to "use only apparel provided to UCLA, which currently has a contract with Adidas." Buyout clauses have "grown exponentially in recent years as universities have struggled to keep coaches in one place and the leverage of job candidates has increased" (L.A. TIMES, 7/9).