Back in October, Mike Gundy agreed to a new contract that will keep the longtime leader of the program on a rolling five-year contract.
Tonight, some additional details of that deal came to light, including a higher buyout if Gundy were terminated without cause.
Beginning when the calendar flips to 2022, the buyout owed from the school if Gundy were terminated without cause goes from 50% of the total remaining compensation to 62.5%. According to The Oklahoman, the buyout as of December 1st, 2022 would be roughly $14.7 million, and that will increase to 75% of the total remaining compensation in January 2023.
The new deal includes a salary increase of about $500k, and that will rise by $125k annually and that will continue throughout the length on the deal.
Gundy, who has been at the helm of the program dating back to 2005 and has a 148-69 record overall, was scheduled to make $4.375 million in 2021, and the new deal retroactively bumped that to $4.875 million.
Head here to read more details of the deal.