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Arizona gets creative in extending Sean Miller, Rich Rodriguez

Sean Miller, Rich Rodriguez and Greg Byrne officially have had their contracts extended, but the payout should they stay down the line is the big win.

Richard Mackson-USA TODAY Sports

Arizona basketball coach Sean Miller, UA football coach Rich Rodriguez and athletic director Greg Byrne saw the Arizona Board of Regents approve their contracts through the 2018-19 season on Friday, according to the Arizona Daily Star's Bruce Pascoe.

The plan to keep that trio together goes beyond that season, however.

If the three remain Arizona Wildcats for eight more seasons, they will receive shares of stock in addition to their salaries. Where the money is coming from has not been made public, but it has been labeled as a booster who will give company stock to the trio -- reportedly from an oil and gas company.

From Paola Boivin's column on the creative deal in the Arizona Republic:

If a coach stays for eight years, he would receive 175,000 units of a master limited partnership in the still unnamed company. He could keep the units or cash in, which at the recent value of $35.36 per unit is worth nearly $6.2 million. This figure would be in addition to the annual salary from the university. Byrne would receive 100,000 units.

Combined, the stock is worth $17.68 million, according to Pascoe.

That will be dolled out on top of Miller's contract, which at $2.64 million this past year will grow to nearly $3 million by the end of his current contract. Rodriguez earned $2.25 million this year and also will receive a raise, while Byrne's salary just below $600,000 will increase $25,000 per year.