LSU Agree to Give Coach Les Miles 2 million Dollar Raise!!!

WOW!!!!!!


Les Miles' contract renegotiated to pay him $3.75 million a year
3/14/2008, 2:04 p.m. CDT
The Associated Press

BATON ROUGE, La. (AP) — LSU officials have agreed to pay football coach Les Miles at least $3.75 million a year for five years, as part of a renegotiated contract deal after his team won the national championship.
The contract change will ensure that Miles is among the top paid college football coaches in the nation. He also is eligible to receive more money each year, depending on the team's performance both on the field and in the classroom.
The contract adjustment was signed Friday by Miles and LSU System President John Lombardi. The university system's governing board also must agree to the arrangement.

Les can buy Grand Isle. What happens if he wins another of these National Championship Things. I guess we will have to give something like Union Parish or something. Perhaps Jeff Davis Parish.

Here is another article with more detail:

BREAKING SPORTS NEWS: Miles gets $1,000 more than Saban at $3.751 million

Glenn Guilbeau gguilbeau@gannett.com
LSU coach Les Miles beat Alabama coach Nick Saban 40-34 last season. On Friday, Miles beat Saban, whom he replaced at LSU in 2005, by $1,000.
Miles signed a “clarification of employment” with LSU president John Lombardi on Friday to make him the third-highest paid college football coach in the country at $3.751 million for the 2008 calendar year. Saban was the third highest at $3.750 for 2008.

“It wasn’t because our fans want Les to be paid higher than Nick,” said Mark Ewing, LSU’s associate athletic director for business on Friday. “It was because Les has to be the third-highest paid coach by contract. So he was given $1,000 more than coach Saban.”Miles’ contract that runs through 2011 dictates that he be the No. 3 paid college football coach if he wins the national championship.

Miles, who made a $1.8 million salary last year, won the 2007 national championship with a victory over Ohio State on Jan. 7.Miles signed his newly amended contract last January to quiet the rumors that he may be going to Michigan, but the salary he was signing for at the time was pending the new salaries of the other top paid coaches.

And LSU had 60 days from Jan. 7 to find out what other coaches would be making. At the time, Ewing guessed it would be in the $3.5 million range.

The highest paid college coach in the country is Notre Dame’s Charlie Weis at $4.2 million. The No. 2 coach is USC’s Pete Carroll at $3.8 million. After Miles and Saban, Oklahoma’s Bob Stoops comes in at No. 5 at $3.75 million.Saban’s salary has often been incorrectly referred to as $4 million a year. His multi-year contract rounds out to $4 million a year, but he made only $3.5 million last year and will make $3.75 million this year. In 2009, his contract jumps to $3.9 million.


Update. More details here at the Picayune

The lst paragraph is indeed important

In addition, the new arrangement, which Lombardi proposed be voted on at the Board of Supervisors next meeting later this month, defines the criteria by which the chancellor can extend Miles' deal by 1-year increments in the future. The baseline criteria will be a season with at least eight victories, and a decision to terminate the contract cannot be made unilaterally by the chancellor but must be made with the concurrence of the president. Finally, the school will boost another bundle of cash available to Miles upon completion of his contract, taking the amount of the buyout from $15 million to $18.75 million if he is terminated.