Tucson, AZ, United States (4E Sports) – University of Arizona has signed men’s basketball coach Sean Miller, football coach Rich Rodriguez and director of athletics Greg Byrne to contract extensions that will keep them with the team through May 31, 2019.
Under the new agreement, Miller, whose current deal expires April 30, 2018, will receive a $100,000 salary increase to $1.6 million on June 1, 2018.
The new deal will increase Rodriguez’s annual base salary from $1.33 million to $1.5 million. The salary then would increase $100,000 every June 1 through 2018, when it would reach $1.9 million. His current deal will expire Nov. 30, 2017.
Rodriguez also earns $495,000 annually for peripheral duties such as radio and TV appearances. Under the proposed deal, that sum would increase to $500,000.
With his current deal set to expire Sept. 29, 2016, Byrne’s annual salary will increase from $500,000 to $625,000. The salary then would increase $25,000 each June 1 through 2018, when it would reach $725,000.
The Arizona Board of Regents will vote on the extensions June 6.
Also, a “major university benefactor” has offered to donate 500,000 units of a Master Limited Partnership (MLP) to the University of Arizona Foundation for the purposes of supporting the university, as well as keeping Miller, Rodriguez and Byrne in Tucson in the next eight years.
According to the documents, as of May 12, each MLP unit was valued at $35.36 for a total donation value of approximately $17.68 million.
The units would be managed by Barclay’s for eight years, during which time quarterly distributions of net income on 450,000 units would be distributed for athletics operational purposes. 50,000 units would be held for non-athletics purposes, with quarterly distributions to be used at the university president’s discretion.
If Miller is still employed as UA basketball coach in eight years, he would receive a distribution of 175,000 units or may opt to have the units sold and receive the cash derived from the sale.
If Miller is terminated without cause before the end of the eight-year period, he would receive a pro-rated share of the unit value through the first four years.
If Miller decides to leave UA or is terminated with cause at any time over the eight years, he would not receive the units. They would go to the athletic director to be used at his or her discretion in consultation with the donor.
Rodriguez has the same proposed retention deal. Byrne would receive 100,000 units if he remains UA’s athletic director in eight years.