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More than a month after Steve Alford's hiring, about the only thing guaranteed in his financial future with the University of New Mexico is the bottom line.

Alford has yet to sign a contract that will pay him $975,000 per season as the Lobos coach.

Athletics Director Paul Krebs said both parties are waiting on a draft of the contract, but he expects a finalized deal in the coming weeks, maybe months.

"These things tend to drag on," Krebs said. "We don't have a timeline, but from our perspective, the sooner the better."

Since his March 23 start date, Alford's only income from UNM stems from his base salary of $210,000, which equates to about $17,500 per month before taxes.

The former Iowa coach earned about $1.25 million per year with the Hawkeyes.

The contract should detail how Alford will receive the rest of his hefty package that has made for a local topic of conversation since his arrival. The $975,000 is easily the most UNM has paid for a coach in any capacity. Krebs said although that figure is untouchable, there's room for negotiation on how the money is distributed until the necessary parties sign the contract.

Part of the deal could include a TV and radio contract, annuity, incentives, a Steve Alford basketball camp or endorsements. Krebs declined to comment on some of those possibilities until UNM finalizes the deal.

Previous coach Ritchie McKay, who was fired Feb. 22, earned more than 60 percent of his $500,000-per-year contract off TV and radio obligations ($175,000), annuity ($100,000) and easily reached incentives such as sticking to budget and having players with good grades and conduct ($50,000).

Some schools that don't flaunt big budgets find creative ways to pay high-profile coaches. Winthrop paid coach Gregg Marshall, who's now at Wichita State, a large portion of the school's annual earnings from playing road games against big-conference foes.

Krebs said he and Alford agreed on two things before the introductory news conference - Alford's package and the $250,000 annual earnings of assistant coach Craig Neal.

The next agreement could take some time.

"It's not unusual for these things to take months," Krebs said. "This isn't the only thing we're all working on."