Well Wildcat fans, Sean Miller is here to stay. The University of Arizona and Coach Miller have officially come to an agreement that will keep Miller as head coach of the Wildcats men’s basketball team until 2022.
The original deal would have kept Miller in place until 2020 at his base $1.5 Million salary. The new contract, per Arizona Board of Regents, proposes a $100,00 per year raise from 2018 until 2020 in conjunction with the extension until 2022.
It also proposes a change to a stock-based vestment made to a donor created Longevity Fund for Coach Miller that includes adding an additional 50,000 units in 2020 that will be paid in 2022. The fund already includes 175,000 units (about 57,750 of that not available until May 2017). Adding the 50,000 units will put the fund’s cash value nearing some $5 million.
All this doesn’t even include Miller’s endorsements and incentives which include the following:
- $20,000 per year* if the Wildcats wins at least 20 regular season games
- $25,000 per year* if the team achieves a certain academic standard.
- $700,000 per year in radio/television compensation
- $400,000 per year in endorsements deals with Nike and IMG.
*According to Bonus Package included in 2015-2016 Season.
All the additives show that Miller’s salary in 2022 will come up be around $2.9 Million (not including the Longevity Fund).
According to the Ariz. Board of Regents, none of Miller’s salary is from appropriated university funds or tuition, and is entirely paid by revenue generated from the Athletics Department.