Arizona seeks extensions for Byrne, Miller and RichRod
Arizona has agreed to separate contract extensions with athletic director Greg Byrne, men's basketball coach Sean Miller and football coach Rich Rodriguez that would take each through May 31, 2019.
There also is a retention bonus at stake for all three, with the support of a donor, that could potentially keep each man in Tucson for the next eight years and net millions.
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Byrne, who agreed to a two-year extension through 2018 last September, would receive a bump from his previous $500,000 base salary to $725,000 in the final year.
For Miller, it marks his fourth consecutive one-year extension from the program. After requesting to not receive a bump in base salary the last time around, the 2018-19 season would give Miller a $100,000 increase from the $1.5 million he is due annually for 2016-18.
The Wildcats won 33 games - the second-highest single-season total in program history - and advanced to the Elite Eight this past season. Miller, who has been at the helm since 2009, would also receive performance incentives - including $500,000 for a national championship and $200,000 for a cumulative team grade-point average of 3.0 or better.
Rodriguez, who is coming off identical 8-5 seasons in his first two years in Tucson, would receive a jump from $1.33 million to $1.5 million in his annual base salary in the proposed deal. Every June 1 through 2018, the salary would increase $100,000 and reach $1.9 million. Rodriguez would receive $500,000 for peripheral duties such as radio and TV appearances, and performance bonuses include $1 million for a national title and $300,000 for a Pac-12 Conference title.
The Arizona Board of Regents, which must approve the extensions, will meet June 6 to vote.
According to board documents, a donor also has offered 500,000 units of a Master Limited Partnership (MLP) to the University of Arizona Foundation to support the school and help keep the three men. Each unit was valued at $35.36, as of May 12, according to the documents, giving the donation an approximate total value of $17.68 million.
So, what does that mean for Byrne, Miller and Rodriguez?
If each remains at Arizona for the next eight years, Byrne would receive 100,000 units while Miller and Rodriguez have separate but identical deals that would net 175,000 units. Included is an option to have the units sold and receive cash from the sale.
If the coaches are terminated, without cause, before the end of the eight-year period, they would receive a pro-rated share of the unit value through the first four years. But should either decide to leave Arizona, or are terminated with cause at any time, then he would not receive the units. Instead, the units would go to the athletic director to be used at his or her discretion, in consultation with the donor.
Also, 50,000 units would be held for non-athletic purposes, with quarterly distributions to be used at the university president's discretion.
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1" align="left" />Click Here to view this Link.Tracy McDannald
GOAZCATS.com Senior Editor