Steve Alford came out to the sound of music and sparklers going off on each side of the entrance he walked through. The University of Nevada’s 19th coach in program history was formally introduced Friday.
“I think it was a win-win,” said Alford. “They’re in it for the long haul. I’m in it for the long haul. To me, that really solidified what I want to do, to have a marriage that was in it to work.”
More details also came out on Alford’s ten-year, $11.6-million contract. Alford will make $500,000 each of his first two seasons. The numbers go up each year after, reaching a pick of $1.5 million in the final season of the deal.
If Nevada terminates Alford’s contract, it will have to pay him everything remaining on the deal as a buyout. If Alford leaves after only one season, he will have to pay $8 million in buyout money. The longer he stays, the lower the amount.
The amount Alford would owe the school on an early departure goes down to $1.5 million in year six, and remains that way for the remainder of the contract. Alford’s deal also includes retention and performance bonuses.