The sum would cover the full amount owed to Ford through 2019, the report said.
Influential boosters have been among those arguing for a change in the program's leadership, and donors could be called on to assist the school in a potential buyout of Ford's contract, the report said.
Ford was given a 10-year contract extension in the 2009 offseason following a 23-12 overall record and a second-round appearance in the NCAA tournament.
In the six seasons since his extension, Ford's teams have made the NCAA tournament four times and lost in its opening game each time, including in each of the past three tournaments.
Oklahoma State soared in the first half of the 2014-15 season, but soured in the second, losing seven of their final eight games of the season, including five of their last sixth conference games. The Cowboys finished tied for sixth in the Big 12.
- Will Green