Trouble is brewing in Stillwater. Per ESPN’s Pete Thamel, Mike Gundy and Oklahoma State are in a contract dispute, with the university asking the head coach to take a pay cut.
Mike Gundy, Oklahoma State Contract Talks
They have discussed firing him for cause if he doesn’t agree to the new contract. He's owed nearly $25 million on his current contract.
— Pete Thamel (@PeteThamel) December 6, 2024
Gundy’s time at Oklahoma State is in jeopardy of ending after 20 seasons.
Per Thamel, Oklahoma State officials have asked Gundy to agree to a restructured contract with a “significant pay cut.” The new deal will also lower Gundy’s buyout, currently around $25 million. Currently, Gundy makes about $7.7 million per year.
If Gundy does not agree to the new terms, Oklahoma State could potentially fire their head coach for cause.
In October 2021, Gundy signed a perpetual five-year contract to remain the head coach at Oklahoma State. The deal extends every year on Jan. 1, so Gundy is signed through 2028.
In March 2022, Oklahoma State altered Gundy’s deal, where Gundy’s annual compensation increased by $1 million, with an annual retention bonus of $1 million for every five years.
Mike Gundy Update
Report from @CollegeGameDay on Mike Gundy’s standoff in Stillwater. Was told this morning he’s shown a willingness to compromise after being asked to take a pay cut or be fired. He’s owed $25 million, per his contract. pic.twitter.com/se1HiLm2jY
— Pete Thamel (@PeteThamel) December 7, 2024
On Saturday’s College Gameday, Thamel said Gundy has been “willing to compromise” since news of the contract dispute broke on Friday night.
2024 has been a tumultuous season for Gundy, both on and off the field.
During Big 12 Media Day, Gundy made a distasteful comment about drinking and driving, saying he probably did it “1,000” times. Gundy made the comments after star running back Ollie Gordon II’s DUI arrest.
After losing to Arizona State in November, Gundy said that fans criticizing him are the “same ones that can’t pay their own bills.” Gundy later apologized.
On the field, Oklahoma State had its worst season since Gundy took over in 2005. The Cowboys finished the 2024 campaign with a 3-9 record, including 0-9 in the Big 12.
Gundy’s career record is 169-88.
