Officials at the University of Arkansas have denied the report.
A source close to Miles told the New Orleans Times-Picayune the offer was for five-years, and $27.5 million. However, Miles' agent denied the report to the Arkansas Democrat-Gazette.
Earlier Tuesday, reports from Little Rock said Arkansas athletic director, Jeff Long, met with the Razorback Foundation to talk about the football contract. It wasn't specified if the contract was for a candidate or to be prepared before making an offer.
This past season Miles completed his 8th year as head coach with a 10-2 record; including a regular season finale win over the Razorbacks. Miles is second on the LSU all-time wins list.