Under the terms of the new contract amendment, Miles will receive $4.3 million per year for seven years, which is an increase from the $3.751 million he was making annually in his contract that was set to expire in December 2017. The amendment would be effective on Jan. 1, 2013 and extend to Dec. 31, 2019.
Here are some other proposals in the new amendment to Miles’ contract:
LSU will pay $150,000 each year of the agreement into an account owned and controlled by LSU.
Miles can collect the funds in the account totaling $750,000 after serving the first five years of the contract.
He can then collect the final $300,000 in the account if he serves the final two years of the contract.
LSU is awarding Les Miles a pay raise following the coach's third straight year with 10 or more wins.
For all the quirkiness and all the questionable calls in big games over the years, there’s no denying Miles is a winner. His team almost pulled off an historic run in 2011, and since 2005 (the first year Miles was at LSU), LSU has more wins (85) than any team in the SEC. Miles’ winning percentage of .802 is the fifth best in SEC history. He’s also the second winningest coach (85-21) in school history, has three SEC Western Division titles, two SEC championships, won the 2007 BCS national championship and played in the 2011 BCS title game.
So even though he snacks on grass, has set clock management back at times and has left LSU fans confused by some of his actions, he still has a very impressive resume at LSU and has helped keep that program going after Nick Saban left.
With 10 more wins in 2012, Miles reached the double-digit win mark for the third straight year and the sixth time in his eight seasons with the Tigers. Plenty of fan bases would take that. Actually, every SEC fan base would love to have that kind of success.
People talk about Miles only winning one national championship during his tenure at LSU, but since he's been in the SEC only Alabama and Florida have more national championships than he does and Auburn is the only other SEC school with a national title. Really, he's one of just five coaches to win the national championship since 2005 and only Saban has been to more national championships (three) during that span.
Miles might be a little peculiar at times, but LSU should be very happy its keeping him in Baton Rouge even longer.