The University of Cincinnati and Wes Miller have agreed on a separation agreement, making both parties free to go on about their next moves.
Sources close to the negotiations say the agreed upon departure money was $3.1 million.
“I want to thank Wes Miller for all of his hard work and the passion he brought to his job every single day,” UC AD John Cunningham said. “We are excited about the next chapter of Cincinnati basketball.”
On March 13, two days after what turned out to a season-ending loss to UCF in the Big 12 tournament, Bearcats coach Wes Miller was summoned to UC Athletic Director John Cunningham’s office.
Though nothing official was announced, it was very apparent that the two parties had dissolved their relationship. Neither Miller nor Cunningham had official comments that day, but word of Miller’s impending departure spread like wildfire.
Wes Miller’s Cincinnati Bearcats buyout
Under his latest contract, UC owed Wes Miller $9.9 million on his buyout up until April 1 when it reduced to $4.69 million. Conversely, if Miller were to leave for another opportunity, he would owe $5 million.
This agreement that allows Miller to pursue a new opportunity and the Bearcats to pursue a new coach. Until the announcement of this separation agreement, Miller was technically still a UC employee and there had been no official announcement of a termination.
One key indicator was that John Cunningham said the Bearcats would not participate in the College Basketball Crown, something the Big 12 was contractually obligated to in Las Vegas with Fox Sports. The Big Ten and Big East have similar agreements. Though the Big 12 supplied the Crown with Baylor, Colorado and Oklahoma State, the Bearcats would have been selected and would face a fine for opting out of the tournament, which begins April 1.
This article originally appeared on Cincinnati Enquirer: Cincinnati Bearcats announce separation agreement with Wes Miller
Reporting by Scott Springer, Cincinnati Enquirer / Cincinnati Enquirer
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