Oklahoma State approves 2-year, $8.3M contract extension for Mike Gundy

The Oklahoma State/A&M Board of Regents unanimously approved a two-year contract extension for head football coach Mike Gundy on Friday.

The two-year extension, which takes his contract through the 2021 season, will pay Gundy $4.15 million annually. Gundy's current contract, which was approved in 2012, was an eight-year deal worth $29.725 million that runs through the 2019 season.

The extension goes into effect July 1 and puts Gundy under contract for the next six seasons. The two years are worth $8.3 million -- $4.15 million each in 2020 and 2021, reports to Mark Cooper of the Tulsa World. Gundy is set to receive the same $4.15 million figure in 2019.

"Coach Gundy runs the program the right way," chair regent Joe Hall said. "We appreciate the integrity of the football operations from top to bottom. He is unwilling to compromise on the high standards he sets for his coaches, staff and players, and he leads by example.

"We were reminded earlier this year of the importance of having a coach who does things the right way and puts the interest of the university and team first."

Gundy made $3.56 million in 2015-16 year, making him the fifth-highest paid coach in the Big 12, behind Bob Stoops (Oklahoma), Charlie Strong (Texas), Art Briles (Baylor) and Gary Patterson (TCU), according to USA Today's salary database.

In 11 seasons at the helm in Stillwater, Gundy has led OSU to a 94-47 record and 10 bowl appearances. The Cowboys have won 10-plus games in four of the past six seasons, including a 10-3 mark with a Sugar Bowl berth in the 2015 season.