Oklahoma State football coach Mike Gundy, who led the Cowboys to just their fourth top-10 finish since 1914 last season, got a big raise on Friday.
OSU announced that Gundy got a $1 million increase per season on his contract, along with an annual retention bonus of $1 million over each of the next five seasons that was approved at an OSU board of regents meeting on Friday. Gundy, who has a "perpetual five-year contract" at OSU, will now make $7.5 million per year.
Gundy is 149-69 in 17 years at Oklahoma State, including 16 straight bowl appearances and seven 10-win seasons since 2010, trailing only Nick Saban and Dabo Swinney over that period.
"Mike Gundy has been a transformational head coach for Oklahoma State," OSU athletic director Chad Weiberg said in a statement. "In the ultra-competitive environment of college football, OSU has been one of the most consistently competitive programs in the country. Under his leadership, OSU Football has accomplished things others never thought possible in Stillwater. He has had a lasting impact on our football program, and our athletic department."
The Cowboys came up inches short of a possible shot at a College Football Playoff game, first beating rival Oklahoma in Bedlam for the first time since 2014, before being stopped just shy of the goal line late in a 21-16 loss to Baylor in the Big 12 championship game.
OSU rebounded from that disappointment with a 37-35 win over No. 5 Notre Dame in the Fiesta Bowl to finish 12-2 and No. 7 in the final AP poll.
"This is clearly the biggest win in history of the school," Gundy said after the game. "You're in a New Year's Day bowl. You're two top-10 teams, No. 5 team in the country. You're playing Notre Dame. Biggest comeback in school history ... down 21 points in the Fiesta Bowl."
Gundy has been vocal about Oklahoma State's opportunity to be at the top of a new-look Big 12 when Texas and Oklahoma leave.
"I've spent a majority of my life in Stillwater. Oklahoma State is home. This next-level commitment from our president, Dr. Kayse Shrum, athletic director Chad Weiberg and our Board of Regents is a monumental step in solidifying Cowboy Football for the future as a national brand," Gundy said. "The Cowboy Culture has never been stronger.