Financial reports or official announcements from Oklahoma State University

Mike Gundy Takes Pay Cut to Fund NIL, Remains Oklahoma State Coach After Contract Standoff

Dec 7, 2024, 05:33 PM

Mike Gundy, the winningest coach in Oklahoma State University history with 18 consecutive winning seasons—the ninth-longest streak in college football—was engaged in a standoff with the university following a disappointing 3-9 season, the worst in his 20-year tenure. The university's Board of Regents met on Friday, December 6, 2024, to discuss his employment. The university asked Gundy to accept a restructured contract that included a pay cut, with intentions to redirect part of his $7.75 million salary towards Name, Image, and Likeness (NIL) payments to players. Gundy was owed $25 million per his contract buyout. Discussions included the possibility of firing him if he did not agree to the new terms. After negotiations and showing a willingness to compromise, Gundy and the university reached an agreement on a restructured contract. The new deal includes a salary reduction and a lowered buyout, with the saved funds allocated to NIL opportunities for student-athletes. Gundy will remain as head coach for his 21st season.