Details of Wes Miller’s contract

Wes Miller's contract with the University of Cincinnati is a six-year deal worth just shy of $8 million.

Miller, who was officially hired as the 28th men's basketball coach in UC history on Thursday, will receive $1,250,000 in the first year and then an additional $25,000 in each of the following five years, according to a “Memorandum of Understanding” obtained Saturday by The Enquirer.

The contract has a total value of $7,875,000.

More:Paul Daugherty: I could be wrong, but Wes Miller's sincerity isn't staged with UC Bearcats

"I'm excited about leading one of the greatest programs in the history of college basketball," the 38-year-old Miller told The Enquirer on Friday. "That's a dream. I've been dreaming about that my entire life."

Miller's contract includes an annual base salary of $250,000. Miller, a Greensboro, North Carolina, native who spent the past 10 seasons as the head coach at UNC Greensboro, also will receive a car, an annual "Business Entertainment Allowance" budget of $10,000 and an annual golf club membership.

If Miller leads the Bearcats to an American Athletic Conference championship or the NCAA tournament, he will receive a performance bonus of $50,000. A Sweet 16 appearance will net Miller $100,000, while an Elite Eight berth will give Miller an additional $150,000.

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