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Arizona basketball: Sean Miller receives contract extension through 2022

The head coach’s yearly salary will be worth at least $2.9 million per year

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NCAA Basketball: Grand Canyon at Arizona Casey Sapio-USA TODAY Sports

Sean Miller is going to be in Tucson for a while.

The Arizona Wildcats head coach had his contract extended through 2022 on Thursday, and his salary will increase to at least $2.9 million by 2020, according to Anne Ryman of the Arizona Republic.

Miller was previously under contract through 2020.

Per Ryman, who thoroughly broke down the deal, Miller’s base salary is $1.5 million, plus he will receive $700,000 in supplemental pay and $400,000 in endorsements, and his salary will increase $100,000 each year for the next three years.

The extension also includes 50,000 units in a stock-based retention package. Miller is already vested in 116,000 units of a publicly-traded master limited partnership and will vest in another 58,000 units on May 31.

The 50,000 units added by the extension are worth just north of $1 million, and will be paid out to Miller on May 31, 2022 (if he is still the head coach at that time).

Miller can also earn bonuses if his teams have a certain cumulative GPA and/or they win a certain number of games.

Ryman reports the Arizona basketball program netted a $10.5 million profit in the last fiscal year, and that’s where most of the funding for Miller’s salary increase will come from. Miller is not paid with tuition or state funds.

There were some (probably unjustified) worries that former UA athletic director Greg Byrne’s departure to Alabama could heighten Miller’s chances of bolting for another job, but Ryman reports UA athletic officials believe this extension will help retain the head coach.

Arizona has a 208-83 record since Miller became the program’s head coach in 2009, and the Wildcats have compiled four Sweet 16 appearances and three Elite Eight appearances during his tenure.

Miller has also been the Pac-12 Coach of the Year twice.

Of course, the one goal Miller has yet to achieve is a Final Four berth, and one Board of Regents member asked if Miller is the guy who will get Arizona back to one.

Evidently, the answer was yes.

The Wildcats have not reached the Final Four since 2001.

You can follow this author on Twitter at @RKelapire