URI Basketball Coach Is Getting a Big Raise - Compensation Jumps to $2M+ a Year
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URI Basketball Coach Is Getting a Big Raise - Compensation Jumps to $2M+ a Year
Despite struggling the first two years leading the Rams, Miller’s five-year contract provides for major increases in year three and beyond.
Miller’s record as URI’s head coach is 21-42 and the Rams have lost in the opening round of the Atlantic-10 conference tournament both years.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe winning percentage for the Rams is 33%.
Despite the struggles on the court and the transfer in and out of 20 players in the first two seasons, Miller's compensation is about to jump to more than $2 million a year.
This past year, Miller was paid more than $1.4 million.
With the contractually agreed-upon increases stipulated in his contract, Miller's compensation will increase to more than $2.1 million.
Prior to joining URI, Miller received a $10.3 million buyout at Indiana University — at the time, it was the 15th-richest in NCAA men's basketball — after he was fired in March of 2021.
Here is How the Raises Kick-In Year Three of the Agreement, According to His Contract:
Retention Bonus - Adds $250,000 a Year for Miller
In each of the first two Contract Years, the Coach shall receive, in addition to his Base Salary, the sum of $750,000.00 (Seven Hundred Fifty Thousand and no/100 Dollars) as a guaranteed portion of the gate receipts for all home games administered by the University’s Athletic Department.
In the third, fourth, and fifth Contract Years, the Coach shall receive, in addition to his Base Salary, the sum of $1,000,000.00 (One Million and no/100 Dollars) as a guaranteed portion of the gate receipts for all home games administered by the University’s Athletic Department. Said amounts shall be paid in equal installments on the pay date closest to but not after July 15, October 15, January 15, and April 15 of each Contract Year (for purposes of this Section 3.2.1, the “Payment Schedule”). The first such payment shall be on the pay date closest to but not after July 15, 2022. If consistent with University policies and procedures, this Payment Schedule may be modified by future written agreement between the parties.
Base Salary
An annualized base salary of $400,000.00 (Four Hundred Thousand and no/100 Dollars) (the “Base Salary”) payable in bi-weekly installments during the Term of this Agreement. It is agreed that the Base Salary shall be eligible for the same salary increases and subject to the same criteria that apply to the University’s non-academic administrative employees.
It is further agreed that the compensation paid in accordance with this Section 3.1.1 shall be subject to the same payroll deductions (for example, state and federal taxes, F.I.C.A. withholding, and employee contributions to the retirement plan and health care plan) that apply to the University’s non-academic administrative employees.
Pension Plan and More -- Miller Gets Best Benefits of Working for URI
An annual contribution to the University’s retirement plan in accordance with the University’s personnel policies pertaining to all non-academic administrative personnel. The Coach shall also be eligible to participate in group insurance, and retirement programs and voluntary payroll deduction programs, and disability insurance, on the same basis, and with the same employer contributions (if applicable), that apply to the University’s comparable non-academic administrative employees. It is agreed that only the Coach’s Base Salary shall apply for the purposes of this section and not the additional salary, benefits, bonuses, or other compensation referred to in this Agreement.
In each of the first two Contract Years, the Coach shall receive, in addition to his Base Salary, the sum of $750,000.00 (Seven Hundred Fifty Thousand and no/100 Dollars) as a guaranteed portion of the gate receipts for all home games administered by the University’s Athletic Department. In the third, fourth, and fifth Contract Years, the Coach shall receive, in addition to his Base Salary, the sum of $1,000,000.00 (One Million and no/100 Dollars) as a guaranteed portion of the gate receipts for all home games administered by the University’s Athletic Department.
Said amounts shall be paid in equal installments on the pay date closest to but not after July 15, October 15, January 15, and April 15 of each Contract Year (for purposes of this Section 3.2.1, the “Payment Schedule”). The first such payment shall be on the pay date closest to but not after July 15, 2022. If consistent with University policies and procedures, this Payment Schedule may be modified by future written agreement between the parties.
Annual Appearance Fee Jumps from $200,000 a Year to $450,000 a Year
In each of the first two Contract Years, the Coach shall receive, in addition to his Base Salary, the sum of $200,000.00 (Two Hundred Thousand and no/100 Dollars) for his appearance and participation in Athletic events and functions reasonably scheduled and approved by the Director of Athletics.
In the third, fourth, and fifth Contract Years, the Coach shall receive, in addition to his Base Salary, the sum of $450,000.00 (Four Hundred Fifty Thousand and no/100 Dollars) for his appearance and participation in Athletic events and functions reasonably scheduled and approved by the Director of Athletics. Said amounts shall be paid in equal installments on the pay date closest to but not after July 15, October 15, January 15, and April 15 of each Contract Year (for purposes of this Section 3.2.2, the “Payment Schedule”). The first such payment shall be on the pay date closest to but not after July 15, 2022. If consistent with University policies and procedures, this Payment Schedule may be modified by future written agreement between the parties.
There are dozens of other incentives layered in the agreement. If Miller were to hit all the incentives for performance, his contract could hit $2.5 million in total compensation in later years.