Oklahoma coach Lincoln Riley has agreed a new six-year contract with the school through the 2025 season, a source ESPN reported.
The new agreement adds two years to Riley’s contract, which must still be approved by the Board of Regents of Oklahoma, which meets this week. Athletic first reported the new agreement for Riley.
Oklahoma raised Riley’s salary to $ 6 million annually in January 2019. His previous agreement included a $ 700,000 bonus each year that OU remains, plus an annual salary increase of $ 150,000. According to the USA Today database, his 2019 salary was ninth among the $ 6,384,462 FBS coaches.
Earlier this month, as a result of the COVID-19 global epidemic, the athletic department announced that it implemented budget cuts of about $ 13.7 million, including 10% for any employee earning $ 1 million or more per year. Salary deduction is also included. A school spokesperson told ESPN at the time that the move affected six people who had to cut pay.
The 36-year-old Riley is 36-6 in three seasons as coach of Oklahoma with three Big 12 titles and three College Football Playoff performances. He won the Big 12 and AP Coach of the Year honors in 2018, and mentions Heiman Trophy winners Baker Mayfield and Kylar Murray as well as Heiman finalist Jaylen Hurts.
The Regent of Oklahoma is set to review the contracts for Riley and his staff of assistants according to their latest meeting agenda.