Mike Gundy restructured contract details revealed after standoff

After a standoff with Oklahoma State this offseason, Mike Gundy came to terms on a new contract with the school. The deal then went for board approval, and the restructured details have been revealed.

Gundy is getting ready for Year 1 of a four-year deal worth $6.75 million per year, along with a $125,000 per year escalator. The contract will run through the 2028 season and no longer include a rollover provision. Gundy’s buyout will also go down as a result.

The deal also sets the table for an eventual succession plan, The Oklahoman’s Scott Wright detailed. Oklahoma State AD Chad Wieberg requested its inclusion and said that could include identifying and developing a new successor to pave the way for Gundy’s eventual departure, whenever that might be.

“That allows for Coach Gundy, as requested by me, to be a part of the succession planning for the next head football coach, whenever that occurs,” Weiberg said. “That’s just recognizing that he is the winningest coach in OSU football history and this will be important to him, us and everyone that whenever that time comes that we have a transition.  He knows more about what it takes to win here than anybody else.

“Assuming how all this plays out, and the timing of it, if I’m the AD at that point, certainly, I would want that advice from him. We wanted to have that in there to start to spell out how that will occur whenever that does occur.”

Gundy’s previous deal rolled over, making it effectively a “lifetime” contract, and paid $7.75 million. That put him as the 17th-highest paid coach in the country and the top salary in the Big 12, according to the On3 Coach Salaries Index.

The $1 million pay cut will likely go toward revenue-sharing as Oklahoma State and schools across the country prepare for the House v. NCAA settlement’s impact. Friday was the deadline for objections in the case, which could be fully approved in April.

On3’s Pete Nakos previously reported Oklahoma State planned to cut Gundy’s base salary and re-allocate those funds to going all-in on NIL, should he agree. If Gundy didn’t, the school would terminate his contract.

Oklahoma State went 3-9 in 2024 and didn’t win a single conference game after being picked to finish third in the Big 12 preseason poll. It marks just the second time Oklahoma State failed to reach bowl eligibility during Mike Gundy’s 20-year tenure, and the first time since his first season at the helm in 2005 when the Pokes went 4-7.