Board of Regents approves 5-year contract for new Arizona basketball coach Sean Miller

Regents approve contract for Arizona’s Miller

TUCSON, Ariz. — The state Board of Regents has approved a five-year contract for new Arizona basketball coach Sean Miller that will pay him $1.6 million annually.

The board, which oversees the state’s three public universities, unanimously approved the deal at its meeting in Flagstaff on Thursday.

Miller was 120-47 in five seasons at Xavier before taking the Arizona job in April.

The Arizona Daily Star reported on its Web site that Miller’s contract calls for a $900,000 base salary with an additional $700,000 for peripheral duties through 2014. On top of that, he’ll receive $400,000 from outside sources each year.

The agreement also has a clause that essentially guarantees Miller a job for seven years, calling for the contract to be renewed an extra two years after his first two seasons on the job providing there are no grounds to fire him.

Arizona would be required to pay the 40-year-old coach $4.8 million if he was fired during the first year of the contract, $4 million during his second year and $3.2 million during the third year. The buyout would drop to $1.6 million during Miller’s fourth year with the Wildcats.

If Miller leaves before the contract ends, he would owe the university $500,000.

The contract is loaded with incentives, including an extra $1 million to finish it out.

Miller would earn an extra $25,000 if his team meets minimum NCAA academic standards; $50,000 if the Wildcats win a regular-season Pac-10 championship; $50,000 if they win the Pac-10 Tournament, $300,000 for a Final Four appearance and $675,000 for a national championship.

Other benefits in Miller’s contract include the use of two vehicles, tickets to university sporting events, country club privileges and the use of a private jet for 30 hours a year.