Stoops Receives $3 Million Bonus

Friday, January 2nd 2009, 8:26 am
By: News On 6

Associated Press

NORMAN, Okla. (AP) -- Oklahoma coach Bob Stoops is $3 million richer.

A clause in Stoops' contract provides for the 48-year-old coach to receive a so-called "stay bonus" of $3 million after completing 10 seasons as the Sooners' head coach. Stoops was scheduled to receive the bonus if he remained at OU through 2008, which ended Wednesday.

The Associated Press obtained a copy of Stoops' contract through an open-records request.

Stoops' 2008 guaranteed annual income was $2.775 million. Along with the $3 million bonus, Stoops also would receive $250,000 if No. 2 OU beats No. 1 Florida in the Bowl Championship Series title game on Jan. 8 in Miami.

Stoops already has earned performance bonuses this season totaling $335,000. That means Stoops is already set to receive $6.11 million for this season, with more possible if the Sooners beat Florida.

He also could receive another performance bonus ranging from $40,000 to $100,000 if the Sooners' team graduation rate is 65 percent or higher.