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We knew weeks ago that UNM basketball coach Steve Alford had agreed to a two-year contract extension, stretching the agreement through the 2019-2020 season, a full decade.

We had heard there would be a buyout in the extension, and there is.

But today when Alford and UNM athletics director Paul Krebs addressed the local media, disclosing the details of the deal, we learned there is a retention incentive*. So Alford will get loyalty bonuses -- sizable loyalty bonuses.

If Alford stays through March 31, 2012 he will receive an additional $250,000.

If he stays through 2016 he will get $500,000.

If Alford fulfills the contract, he gets another $500,000.

*This incentive is backloaded, Krebs says, because of the country's economic problems.

The buyout -- something Alford says he's never had, and that Krebs thinks illustrates his commitment to the university -- also slides.

If Alford leaves before March 31, 2011, then he (read: his future employer) owes the university $400,000. That amount drops every year by $100,000 till 2013. If Alford terminates the deal after April 1, 2013, then the university will be paid $150,000. That stays in effect through the duration of the contract.

The other notable portion of this contract extension states Alford's base salary will nearly double -- to $504,200 annually -- in 2014.

MY TAKE: Both parties seemed happy with this deal, and it should pay dividends for both.

So, from that standpoint, I think this is a good deal.

And everything feels like Alford is about to guide UNM into an era of unprecedented success. Maybe it will come close to matching some fans expectations. If Alford pushes UNM to consistent NCAA Tournament appearances, maybe even a Final Four, it certainly will be a sound investment. And it brings stability.

But $400,000 (or less) isn't daunting enough to dissuade a big time program from poaching Alford. I believe Alford when he says he wants to say here, but I can also envision scenarios in which he bolts. So far Alford has only exceeded expectations. When the program falls short some years, or if the administration changes, then all that could shift.

It'll be fun to watch.