MIAMI, OK -- Following only the sixth nine-win regular season in school history, Oklahoma State University announced on Friday a contract extension for head football coach Mike Gundy, giving him a new seven-year contract worth $15.7 million. The contract was announced following action by the OSU/A&M Board of Regents at its regular meeting in Miami.
With the new contract, which is effective Jan. 1, 2009 and runs through December of 2015, Gundy's average annual compensation will be more than $2.2 million. His current six-year contract paid him $1,053,000 this year.
"The OSU Board and administration are extremely pleased with the job Coach Gundy has done in moving our football program forward," said OSU President Burns Hargis. "With the caliber of student athletes he and his staff are recruiting, and with our new facilities, the future is very bright."
Mike Holder, OSU VP for athletics, said, "Coach Gundy has done an excellent job. He led our program to nine regular season wins this year and a high national ranking, while playing in the toughest division in college football, the Big 12 South. Our student athletes are excelling in the classroom and on the field. He has earned this increase."
Gundy, who was a four-year starter at quarterback at OSU from 1986 to 1989, said, "I have always appreciated the opportunity to coach at my alma mater. 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.
"Of course, my greatest reward is leading such an outstanding group of student athletes. I couldn't be prouder of our players and the way they perform in the classroom, on the field and as representatives of OSU. I am very thankful to be at Oklahoma State University."
OSU finished the regular season 9-3 and is ranked 14th in the latest BCS standings. It reached the top 10 for the time since 1988 and its three losses came against teams ranked first, second or third in the AP poll at the time. The 2008 Cowboys are only the eighth team in school history to win nine games and with an upcoming bowl appearance have a chance to become the fourth 10-win team in school history.
Gundy is in his fourth season as OSU head coach and has a record of 27-22. OSU has improved its conference record each of his four years: from 1-7, to 3-5, to 4-4 and now 5-3.