Oklahoma State coach Gundy signs 7-year contract that will pay more than $15 million

Gundy signs 7-year contract with Oklahoma State

STILLWATER, Okla. — Oklahoma State football coach Mike Gundy has signed a seven-year, $15.7 million contract that he agreed to in December.

The contract increases Gundy’s annual salary from $1,053,000 to an average of more than $2.2 million per year. Gundy’s first contract at Oklahoma State paid him $700,000 in 2005.

According to details of the contract, released Friday as the result of an Open Records request, Gundy will receive an annual base salary of $375,000 during the first year. His base pay will increase incrementally until it reaches $550,000 in 2015.

The university says Gundy is also entitled to bonuses, including $500,000 if his team wins the national championship and $100,000 for a BCS bowl game appearance or for a Big 12 title.

Gundy is 27-23 in four seasons with the Cowboys.