Details in Restructured Gundy Contract Confirmed as Gundy on Road Recruiting
STILLWATER – Basically, everything that was rumored and speculated following the Dec. 6 meeting of the Oklahoma State University and A&M Board of Regents, their specially-called meeting and exectuive session regarding Oklahoma State head football coach Mike Gundy’s restructured contract is true. The board of regents had their regularly scheduled meeting on Friday, Jan. 31. The approval of the restructured contract for Gundy was handled during the personnel portion of the agenda under Oklahoma State University.
As Gundy’s restructured contract was being presented, voted upon, and approved. Gundy was traveling through East Texas and on into Arkansas to visit high schools of top recruits like Rogers, Ark. linebacker Braxton Lindsey, Little Rock Parkview linebacker Jakore Smith, and Little Rock Pulaski Academy offensive tackle Evan Goodwin.
Gundy’s new contract, as speculated calls for a reduction in pay of $1 million per year. It also eliminates the four-year rollover format that kept his contract at a perpetual five-year term. There is a reduced buyout, however if Oklahoma State wanted to fire Gundy (without cause) the buyout is still significant. The new buyout is $15 million for the next three years, dropping to $10 million in 2028.
According to terms of the restructured deal that was approved, Gundy is entering into a four-year contract that will pay him $6.875 million in this first year. he will receive an annual raise of $125,000 through the lenght of the contract meaning in it’s final year Gundy would receive $7.25 million.
Also, as noted and pointed out several times by the head coach himself, the $1 million that he is giving up in salary annually with this new deal will go directly toward the revenue sharing monies that will go to Oklahoma State football. Gundy had told Pokes Report that he was planning on making that donation out of his salary as soon as the House vs. NCAA suit was officially settled and it would be legal for a coach to donate directly to the amount the school would be sharing with athetes, in this case football athletes.
It is also worth noting that the new agreement between Gundy and the University calls for a provision for increased participate in fund raising and donor activities. It also calls for Gundy to be involved in participating in a plan for succession when he decided to retire as head coach or have a plan in some semblance when he were to leave the position as head coach.
“Obviously, his first obligation is being the head football coach,” Weiberg said to The Oklahoman’s Scott Wright. “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 all those sorts of things in this new world.”
The news of the newly approved contract was first reported by Scott Wright of The Oklahoman.