Oklahoma coach Lincoln Riley and the school's board of regents have agreed on a new six-year contract extension through the 2025 season.
Sooners athletic director Joe Castiglione confirmed the deal to The Oklahoman.
The new agreement adds two years to Riley's contract, but the details were worked out before the coronavirus pandemic, Castiglione said.
"We felt, obviously, that it's important for us to keep our commitment," Castiglione told the Oklahoman. "We're very, very understanding of the unique times that we're in, but in our normal, productive way we started conversations back in early December that resulted in an agreement in principal in February. With that said, it's reflective of the marketplace. Most importantly, it allows Oklahoma, our program and our fans to have the certainty that our coaches are connected to us for an extended period of time."
Oklahoma increased Riley's salary to $6 million annually in January 2019. His previous agreement included $700,000 bonuses for each year he remains at OU, as well as annual salary increases of $150,000. His 2019 salary of $6,384,462 ranked ninth among FBS coaches, according to USA Today's database.
Earlier this month, as a result of the coronavirus pandemic, the athletic department announced it implemented budget cuts of approximately $13.7 million, including a 10% salary reduction for any employee earning $1 million or more per year. A school spokesperson told ESPN at the time that the move impacted six people who have to take the pay cut.
Riley, 36, is 36-6 in three seasons as Oklahoma's coach with three Big 12 titles and three College Football Playoff appearances. He won Big 12 and AP coach of the year honors in 2018, and has mentored Heisman Trophy winners Baker Mayfield and Kyler Murray, as well as Heisman finalist Jalen Hurts.
Oklahoma's regents are set to review contracts for Riley and his staff of assistants, according to its latest meeting agenda.