Mike Gundy’s contract extended through 2028 with revised terms and new responsibilities

Oklahoma State head football coach Mike Gundy's revised contract was approved on Friday, which includes a reduced salary and new responsibilities, such as increased engagement.

News 9/News On 6 obtained a copy of OSU's renewed contract with Gundy, extending his tenure through December 31, 2028.

After the season, discussions about Gundy's future led to an agreement on a revised contract.

Recap: Mike Gundy, Oklahoma State Reach Agreement On Restructured Contract

The former Oklahoma State quarterback has a 169-88 record at his alma mater, including a Big 12 title and 10 AP top-20 finishes.

The new agreement, effective December 7, 2024, replaces previous contracts and outlines Gundy's responsibilities and compensation.

The contract stipulates that Gundy reports directly to the Director of Intercollegiate Athletics, who can review and revise job duties within reason.

This renewal comes as Gundy enters his 20th year as head coach at Oklahoma State, solidifying his position as one of the longest-tenured coaches in college football.

Key points of the contract include:

Compensation:

Gundy signed the four-year contract worth $6.875 million in total compensation for the first year.

Base Salary & Annual Increases

1. Jan 1, 2024 – June 30, 2024: $2,825,000
2. July 1, 2024 – Dec 31, 2024: $2,125,000
3. Jan 1, 2025 – Dec 31, 2025: $5,375,000

Beginning in 2026, Gundy’s annual salary will increase by $125,000 yearly, paid in 12 equal monthly installments.

If Gundy were to be fired in the next three years, he would be owed $15 million and $10 million if fired during the last year of the contract.

Retention Bonus

Gundy signed the contract stating that if he remained employed as head coach through December 15, 2024, he would receive a $1,000,000 retention bonus.

Responsibilities:

Gundy must maintain high moral, ethical, and academic standards.

He is required to comply with NCAA rules and university policies.

The coach must report any potential violations immediately.

Gundy is expected to emphasize academic achievement for student-athletes.

Compliance:

Full cooperation in NCAA investigations is mandatory.

Gundy may face disciplinary action for rule violations.

He must indemnify the university for certain legal fees and fines resulting from NCAA violations.

Additional Duties:

Supervise assistant coaches.

Participate in fundraising and donor engagement activities.

Assist in succession planning for the next head football coach.

New Items:

Two new items have been added to the contract since Dec., including planning for the next football coach and fundraising.

"Employee agrees that Employee’s duties and services to the University include participating in good faith in University’s succession planning for the next University Head Football Coach, as directed by the Director. Employee’s succession planning responsibilities may include, but are not limited to, Employee’s collaboration with the University in identifying, evaluating and developing a successor for Employee's position, as well as facilitating a smooth transition to such successor."

"Employee acknowledges Employee’s position as Head Football Coach places Employee in a position that has a significant impact on University and its growth and fundraising efforts, especially on donors who have the capacity to make significant positive contributions to the University. Employee agrees to engage in all fundraising and donor engagement and stewardship activities for donors who have the capacity to make significant positive contributions to the University in a professional manner at reasonable times as requested by the Director, whether those activities involve the University President, the Director, development staff or others assisting in fundraising for the benefit of the University. Director understands that Employee’s primary responsibility is football duties as the Head Football Coach. Employee understands that fundraising is an important obligation of every head coach in FBS football."