Mike Gundy, the most successful head football coach in the history of Oklahoma State University football, has signed a new long-term rollover contract with the university subject to the approval of the OSU/A&M Board of Regents.
According to OSU, the new deal is for five years and provides for annual automatic rollovers.
The school says this agreement replaces Gundy's previous contract, which would have expired on Dec. 31, 2019. His new salary, which is retroactive to January 1, 2017, will be $4.2 million annually with a $125,000 annual escalator. His previous salary was approximately $3.9 million per year.
Gundy's contract is paid entirely through athletic funds.
"Today is a good day for Oklahoma State football," said OSU athletic director Mike Holder.
"The new contract recognizes Coach Gundy's success at building and sustaining a premier college football program and reflects our appreciation and our long-term commitment to Coach Gundy. Not only is he one of the best coaches in the country, he also does things the right way.
"Coach Gundy loves his alma mater and is passionate about success both athletically and academically," said Burns Hargis, president of Oklahoma State University.
"He is a strong leader and motivator who gets the very best out of players, coaching colleagues and the organization.
Gundy is the longest tenured and winningest coach in Oklahoma State history with a career record of 104-50. He is 63-39 in Big 12 play including a Big 12 championship in 2011 and a Big 12 South co-championship in 2010. Gundy's 63 Big 12 wins rank fourth all-time in the league.
Gundy has been the head coach at Oklahoma State for 12 seasons.
"I'm very pleased with the new contract because it reflects our mutual commitment and long-term vision to take our football program to an even higher level in the years to come," said Mike Gundy.
"I appreciate the support and confidence of President Hargis and Coach Holder in me to continue to lead this program for many years to come."