BATON ROUGE, La. - LSU and Les Miles have reached an agreement on a new contract that will give him more money and extend his time with the Tigers through 2019 it was announced Wednesday.
Though he dismissed reports that Arkansas had offered him a lucrative five-year, $27.5 million deal, LSU Athletic Director did say that interest from other programs moved up the timetable for a new deal for Miles.
"I'm an LSU head coach and will be an LSU head coach for as long as I can be," Miles said Wednesday. "Hopefully we'll look up seven years from now and I'll be looking for another seven-year extension."
The school said the financial terms of the new deal were still being worked but reports had the new contract worth about an extra $500,000 per year or about $4.3 million annually.
Miles became the second-winningest coach in LSU history this past season.
“Les Miles is one of the premier coaches in the country and has LSU in contention for championships year in and year out,” said Joe Alleva, the vice chancellor and director of athletics. “Only two coaches in the 119-year history of LSU football have coached as many years at this school and only one has won more games. Les Miles has made a commitment to LSU and LSU is solidifying its commitment to Les Miles.”
“The coaching business is a competitive one and it is important to compensate our coach for his accomplishments and his worth,” Alleva said. “Les has not received a pay increase since his salary was automatically elevated following our national championship in 2007 and he has continued to keep LSU on the national stage.
“Our intent was to address his contract following this year’s bowl game, but speculation about other job opportunities accelerated our process a little,” Alleva said. “I think we have accomplished the important step of securing Les Miles as our head coach for the long-term good of the program.”