OSU Gives Gundy Raise, Contract Extension

Mike Gundy was rewarded by the regents who oversee Oklahoma State on Friday with a new seven-year contract that will pay him $15.7 million.

The OSU/A&M Board of Regents, meeting at Northeastern Oklahoma A&M College, agreed to a contract with Gundy that will take effect Jan. 1 and run through December 2015. Gundy's annual salary will go from about $1 million to an average of more than $2.2 million.

Gundy is 27-22 in four seasons at his alma mater. His first contract at Oklahoma State paid him $700,000 in 2005, and his current six-year contract would have taken him through 2013.

Details of the new deal weren't immediately disclosed by Oklahoma State.

The No. 14 Cowboys (9-3, 5-3 Big 12) would finish with 10 wins in a season for only the fourth time in school history with a bowl win. All their losses this season came against teams that were ranked in the top three at the time of the game.

"The OSU Board and administration are extremely pleased with the job Coach Gundy has done in moving our football program forward," university president Burns Hargis said in a statement. "With the caliber of student-athletes he and his staff are recruiting, and with our new facilities, the future is very bright."

Athletic director Mike Holder said Gundy "has earned this increase" based on the Cowboys' success on and off the field.

"I have always appreciated the opportunity to coach at my alma mater," Gundy said. "This is the best job in the country. We have great fans, we are building tremendous facilities, we have great support from the administration and I have a terrific staff."