Mike Gundy had his contracted reduced following an internal review of the football program, Oklahoma State athletic director Mike Holder said Friday during a video call with reporters.
Holder said Gundy’s contract was shortened from a five-year rollover to four years along with a $1 million pay cut. Holder added Gundy’s contract buyout was also trimmed from $5 million to $4 million, and his guarantee dropped from 75 percent to 50 percent. Gundy’s contract now runs through 2022. The Stadium’s Brett McMurphy first reported the changes.
“The changes were offered up by Mike Gundy, and I commend him for that. It was his idea to take a million-dollar pay cut,” Holder said. “I think it really demonstrates his commitment to being a better coach. He wanted to make a statement that assured all the players that this wasn’t just about talk, this is more about action, and that’s the first step.”
Gundy made $5.125 million during his 15th season at the helm in 2019. The Cowboys went 8-5 this past season and lost to Texas A&M in the Texas Bowl to end OSU’s bowl game winning streak at three. OSU is 129-64 and appeared in a bowl game for 14 straight years since he took over the program in 2005.