Sean Miller is scheduled to receive a $1.97 million retention bonus Sunday, but thatâs only about one-third of what he might have expected when his booster-funded plan was set up six years ago.
For that, the UA basketball coach can blame the oil business.
In May 2014, an unnamed UA booster set aside 175,000 shares each in Western Refining Logistics stock for Miller and then-football coach Rich Rodriguez, while then-AD Greg Byrne was set to receive 50,000 shares (which UA officially calls âunitsâ in a master limited partnership). At the time, the shares were worth $35.36, meaning Millerâs share was worth $6.19 million on paper at that point.
Miller vested in those shares on May 31, 2017, and a final payment has been scheduled for Sunday. But after two acquisitions â from Western Refining Logistics to Andeavor Logistics and now MPLX (a master limited partnership formed by Marathon) â the 175,000 shares in Western Refining Logistics have converted into 103,940 shares of MPLX stock.
As of Fridayâs market close, MPLX shares were worth $18.99 each, meaning Miller was due a total of $1.97 million â or 68% less than he had set aside on paper as of May 2014.
However, Miller will vest in another 50,000 âunitsâ (now 29,697 shares of MPLX) from the initial partnership on June 1, worth another $563,951 as of Friday. He was given those extra units in 2017 after Byrne left to become Alabamaâs athletic director before he vested in his 50,000 shares.
Since then, softball coach Mike Candrea (50,000) and baseball coach Jay Johnson (60,000) also were assigned unit shares coming to them if they stick around long enough, although football coach Kevin Sumlin does not have any in his contract.
Miller will have to stay at UA until May 31, 2022 to collect on those additional 29,697 shares in MPLX stock. Candrea already received the proceeds from 10,000 original units in both June 2018 and June 2019, while he is contracted to receive the proceeds from another 30,000 units on June 30, 2020 â translating to 17,818 units of MPLX, worth $338,370 as of Friday.
Johnson has received 10,000 âunitâ bonuses at the end of the past three seasons, and will continue to receive the proceeds from another 10,000 of original units at the end of every season through 2023.
It isnât known exactly how UA will define the end date to the baseball teamâs 2020 season, but as of Friday the 10,000 units translated into $112,790 worth of MPLX stock.
The losses could have been even greater, but MPLX stock has more than doubled since tumbling under $9 per share in March.
In 2018, in the wake of the federal investigation into college basketball and an ESPN report that said Miller discussed a pay-for-pay scheme, the Arizona Board of Regents approved a $1 million reduction in Millerâs longevity funds if he is charged with a crime or found to have committed a major NCAA violation.
UA athletic director Dave Heeke said at the time that both sides wanted to âillustrate our strong position,â with Miller agreeing to the potential $1 million penalty.
âSean was supportive of putting a hard marker on the table, saying âIâm willing to stand behind this,ââ Heeke said. âThis was moving forward together as partners and representing our university and our basketball program.â
Arizona remains under NCAA investigation but has not yet reported a notice of allegations.
Lithuanian big man Azuolas Tubelis is rated by many as the best European player to pick an American college this year.
UAâs class ranked fifth
The addition of Lithuanian big man Azuolas Tubelis pushed Arizonaâs 2020 recruiting class up two spots to No. 5 overall in 247 Sportsâ internal and composite class rankings.
Rivals has the class at No. 13, though that ranking does not yet include Tubelis.
Individually, Tubelis was rated the No. 54 prospect in 247âs class of 2020 rankings, just behind Dalen Terry (44) and Bennedict Mathurin (50). Of UAâs other recruits, Estonian point guard Kerr Kriisa was 64, French post player Daniel Batcho was 104 and Turkish guard Tibet Gorener is No. 122. Tubelisâ twin brother, Tautvilas, was not ranked.
Pastner praises Terry hire
Add Georgia Tech coach Josh Pastner to the list of former Wildcats praising the return of Jason Terry to UA as an assistant coach.
A former Wildcat player and assistant coach, Pastner was a year athletically behind Terry at UA and said they often worked out together at 7 a.m. during Terryâs senior season of 1998-99, when Terry became an All-American after playing a sixth man role over the previous two seasons.
âHis senior year he singlehandedly won us a lot of games,â Pastner said. âI love Jason Terry, absolutely love him. I think heâs going to be a great addition. Heâs one of the greatest players ever at the University of Arizona and on top of that played 19 years in the NBA. Iâm really happy for him. Heâs awesome.â
The Star is profiling Southern Arizona high school athletes whose seasons were cut short by the coronavirus pandemic. Here's a look at the athletes who have been featured so far.
