As was promised late last year, LSU coach Les Miles is getting a little more green to chew on. So to speak.
The university announced in a release on Thursday that Miles would be the recipient of an annual raise totaling over $500,0000 and a two-year extension from 2017 to 2019. In all, Miles will receive $4.3 million per year for seven years (he was previously paid $3.751 million in school pay).
The amendment states that LSU “will pay $150,000 each year of the agreement into an account owned and controlled by LSU. Miles can collect the funds in the account totaling $750,000 after serving the first five years of the contract. He can collect the final $300,000 in the account if he serves the final two years of the contract.”
The amendment to Miles’ contract would be effective on Jan. 1 and is merely pending approval next month from LSU’s Board of Supervisors.
“Les Miles is one of the most successful coaches in America and he has the LSU program in position to compete for championships each and every year in the most dominant football conference in the country,” athletic director Joe Alleva said. “He recruits at an elite level, his players graduate and he is a respected member of the community. We are proud he will lead the LSU football program for the long-term future.”
According to this USA Today database, the raise would make Miles the fourth-highest-paid head coach in the country, behind Nick Saban, Mack Brown and Bob Stoops.
Miles was reportedly a target in Arkansas’ coaching search when it was clear that John L. Smith would not be retained beyond 2012. The LSU coach confirmed that he had engaged in preliminary discussions with UA, but denied that there was a five-year, $27.5 million offer on the table from the Razorbacks.
Either way, Miles received a nice little bump in pay from it.