What is in Mike Gundy’s new contract as Oklahoma State football coach?

STILLWATER — Oklahoma State football coach Mike Gundy’s new contract includes a provision for increased engagement in fundraising and donor activities, along with laying the groundwork for an eventual succession plan.

The new contract, which was approved by the Oklahoma A&M Colleges Board of Regents at their regular meeting Friday, also includes previously reported pay reduction of $1 million per year, a reduced buyout and the elimination of the annual rollover provision that had kept Gundy’s contract at a perpetual five-year deal.

With those changes, Gundy is essentially entering into the first year of a four-year contract that will pay him $6.75 million, with an annual raise of $125,000 per year going forward. The contract is set to expire after the 2028 season.

“It will act more like what you would probably refer to as a ‘normal’ contract,” OSU athletic director Chad Weiberg said Friday.

The $1 million reduction in salary is set to be applied toward revenue sharing when the NCAA antitrust lawsuit settlement takes effect, likely July 1.

More: Oklahoma State softball stadium getting new video board as part of continued improvements

Oklahoma State head football coach Mike Gundy speaks during a press conference at Boone Pickens Stadium in Stillwater Okla., on Thursday, Jan. 23, 2025.

Gundy’s increased involvement in fundraising and donor engagement will be handled at Weiberg’s request, and can include anything from large gatherings to one-on-one events, Weiberg said.

“Obviously, his first obligation is being the head football coach,” Weiberg said. “Coach Gundy has always participated in those types of events. I think what this is doing is recognizing that our world is changing and it’s more important now than it ever has been that we are engaging with our donors to help us with revenue sharing and…

Source link : https://sports.yahoo.com/mike-gundys-contract-oklahoma-state-200724733.html

Author : The Oklahoman

Publish date : 2025-01-31 20:07:00

Copyright for syndicated content belongs to the linked Source.