OSU football coach Mike Gundy signs new contract

BRANDON CHATMON Published: August 1, 2009
Advertisement
;
STILLWATER — More than seven months after Mike Gundy agreed to a new contract, the Oklahoma State coach has signed the seven-year, $15.7 million deal he agreed to in December 2008.

“Everything is finalized and everything is signed,” Gundy said during Friday’s media luncheon at Karsten Creek Golf Club.

Gundy will average $2.242 million per season over the seven years of the contract. The contract also includes a buyout of $3 million if Gundy leaves before the contract expires.

The former OSU quarterback will receive a first-year base salary of $375,000 with incremental increases throughout the seven-year deal. He will also receive incentives totaling $1.425 million beginning in 2009 with incremental increases.

In addition, Gundy can earn the following incentives: $500,000 for a national championship, $100,000 for a BCS bowl game appearance or Big 12 Championship, $400,000 for participation in a bowl game three out of five years and $600,000 for participation in a bowl game four out of five seasons.


Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Tom Cruise secretly dating Laura Prepon
  2. 2
    15 hurt when fire trucks crash; one plows into restaurant
  3. 3
    Meet the sisters saving Spanish horses from slaughter
  4. 4
    News 9: Man accused of child sex crimes during game of truth or dare
  5. 5
    KOCO: Oklahoma City shooting range first to offer bullets, booze
+ show more