NORMAN — One down, one to go.
Oklahoma has secured one major piece in its basketball future with Thursday's announcement that the university and Jeff Capel have agreed on a contract extension and pay raise for the 33-year-old head coach.
As much excitement as that announcement generates for Sooner fans, it will at least be matched should freshman star Blake Griffin decide to come back for his sophomore season.
But that news might not come for a few more weeks.
As for Capel, who went 23-12 and reached the second round of the NCAA Tournament in his second year at OU, he will have his contract extended by three years, through 2014. And he will receive an additional $300,000 per year in guaranteed compensation, bringing his salary to $1.05 million, plus incentives.
"I want to thank the University of Oklahoma, especially President Boren and Joe Castiglione, for the continued belief in me and in our basketball program,” Capel said in a statement released by OU on Thursday night. "Our program made tremendous progress this season, and the new contract will allow us to build on our momentum.”
Capel has a career coaching record of 118-68, including three postseason appearances, in six seasons. He made $750,000 in guaranteed salary this season, along with a combined $30,000 in bonuses for winning at least 20 games and reaching the second round of the NCAA Tournament.
Joe Castiglione, Oklahoma's Vice President for Sports Programs and Athletics Director, said no state-appropriated funds will be used for Capel's compensation, which will be funded by revenue produced by the athletics department.
The contract does not become official until it is approved by the OU Board of Regents. Pay raises for coaches are typically approved during the June Board of Regents meeting near the end of every fiscal year.
According to reports, Capel had emerged as South Carolina's top target for its vacant head coaching job after Dave Odom announced his retirement in January. And rumors grew louder over the last two weeks that Capel would consider the job.
However, the coach remained adamant that he wanted to stay at OU. And Castiglione remained adamant that he'd be proactive in trying to keep him there.
"We greatly appreciate the positive momentum which continues to build under the leadership of Jeff Capel,” Castiglione said. "His work ethic, character, passion for excellence and his ability to inspire is truly generating enthusiasm for Oklahoma basketball.”
