Mike Gundy Agrees to Restructured Contract, Takes Pay Cut for NIL Payments at Oklahoma State

Dec 7, 2024, 04:57 PM

Oklahoma State University and head football coach Mike Gundy have reached an agreement on a restructured contract, ending a standoff that arose after a disappointing 3-9 season in 2024. The new deal includes a reduction in Gundy's $7.75M salary, with the savings being redirected towards Name, Image, and Likeness (NIL) payments for players. This compromise was reached after days of discussions, with Gundy initially facing the possibility of being fired if he did not agree to the terms. The agreement ensures Gundy will return for his 21st season as the Cowboys' coach, making him the winningest coach in the school's history after 20 years at the helm. The contract also includes a reduction in his buyout, previously set at $25 million, and reflects Gundy's willingness to compromise.