Regents approve changes to Miller contract

Posted at 9:56 AM, Apr 06, 2018
and last updated 2018-04-06 17:08:50-04

Arizona Wildcats basketball coach Sean Miller will lose $1 million of projected income if the FBI connects him to its bribery investigation or if the NCAA rules that he has run afoul of certain rules.

The Arizona Board of Regents approved the changes to Miller's contract Friday. It states he will have to forfeit a number of Andeavor Logistic stock equal to one million dollars if he is criminally charged, or if he is found to have committed a Level 1 NCAA violation. Andeavor Logistic is a Master Limited Partnership where Miller's retention bonus is vested. 

These changes come following a tumultuous season for the Wildcats that saw assistant coach Book Richardson be arrested by the FBI for a number of crimes including bribery. Additionally, an ESPN report claimed Miller discussed paying DeAndre Ayton to attend Arizona.

Miller makes approximately $2.6 million dollars each season prior to performance bonuses. He also is compensated in ANDX stock that is vested at different times. It is currently worth approximately $4 million dollars.

The board approved the changes with a unanimous vote. Miller's contract runs through May 31, 2022.

The $1 million Miller would forfeit would be taken from stock provided to him through a private donor, known as a "longevity bonus" that is scheduled be paid to him in two years.