AUBURN, Ala. — Auburn will pay basketball coach Tony Barbee $1.5 million annually over the next six years.

The university released a letter of agreement with Barbee on Thursday outlining the terms. The former UTEP coach will be formally introduced later in the day.

Barbee will receive a base salary of $225,000 with the rest coming from endorsements and television, radio and Internet rights along with fundraising and personal appearances.

Auburn was paying Jeff Lebo $785,000 before his firing after six seasons.

Barbee will also receive two dealer cars or car allowances equaling 5 percent of his base salary. He is also eligible for academic and performance bonuses, but those details were not released.

Barbee will receive a written contract covering the entire agreement.