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New contract cuts Mike Gundy's buyout in half

A free t-shirt could wind up being the most expensive thing Mike Gundy ever owned.

When photos surfaced of the Oklahoma State head coach donning an OAN shirt mushroomed into a possible player mutiny earlier this summer, Oklahoma State launched an investigation into Gundy and the football program.

That investigation cleared Gundy to continue leading the program he's headed since 2005, but with a lighter contract. Gundy's contract went from a rolling 5-year deal to a 4-year one, with a $1 million pay cut that, we were told, came at Gundy's suggestion.

But that wasn't the only change Oklahoma State made, and it's hard to imagine any of these being Gundy's idea.

As detailed by The Oklahoman, Gundy would now owe Oklahoma State $4 million should he leave for another job, an increase of $1 million from the previous figure.

But the biggest change came on his school-side buyout, which changed significantly.

Previously, Gundy would be owed 75 percent of his remaining contract should Oklahoma State fire him without cause -- a figure that, at roughly $5.25 million per year for five years, equated to roughly $17 million.

Now, though, Gundy would be owed 50 percent of his remaining contract, which, at $4.25 million over four years, cuts his buyout roughly in half, to $8.5 million.

Additionally, Gundy would now be owed $2 million if he is fired for cause, a drop of $500,000 from the previous deal.

But that's not all. The Oklahoman's report points out Gundy's force majeure clause -- a standard feature of contracts that allows the school to walk away in the event an act of God makes it impossible for OSU to play football -- now includes language that includes “epidemics, pandemics, quarantines.”

Should a force majeure event occur, OSU AD Mike Holder has the authority to alter Gundy's contract with 24 hours' notice. But, the contract states, any amount Holder happens to reduce Gundy's contract, Holder must also reduce his own compensation by an equal or greater amount.

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