Mike Gundy Takes Pay Cut Following Investigation
STILLWATER -- Thursday evening, Oklahoma State announced the conclusion of an investigation into Mike Gundy and the football program stating the review "uncovered no signs or indication of racism."
Rather, after talking with former and current players, they discovered Mike Gundy needs to invest more time into creating and maintaining personal relationships with his players.
Athletic director Mike Holder met with members of the media Friday morning via Zoom where he announced that following the investigation, Mike Gundy has accepted an updated contract. In fact, coach Gundy was the one that suggested the updated contract.
His new contract has been reduced from a five-year rollover to a four-year rollover contract and pay has been reduced by $1 million per year from $5 million to $4 million.
The news of an updated contract was first reported by Stadium's Brett McMurphy.
"I can confirm that it's true," Holder said of Gundy's contract adjustment. "The changes were offered up by Mike Gundy and I commend him for that. It was his idea to make a million dollar pay cut; you don't find that very often in the competitive world of college football. We made a few other changes to the contract at his suggestion, so I commend him for that. I think it really demonstrates his commitment to being a better coach and he wanted to make a statement that assured all the players that this wasn't just about talk, this was more about action and that's the first step."
Other changes to the contract include the guaranteed amount lowered from 75% to 50%, and the buyout reduced from $5 million to $4 million. They also added a force majeure, or an Act of God, clause to the contract, based on the current landscape of college athletics due to the ongoing coronavirus pandemic.
Holder mentioned in the Zoom call that the athletic department needed to add an Act of God clause to every coach's contract.