After another run to the College Football Playoff, Lincoln Riley and Oklahoma came to an agreement on yet another contract extension. The details of that January move are now public.
The new deal bumps Riley's total salary up to $6 million, an OU record $1.2 million raise from 2018. Riley was the 16th highest paid coach in FBS football last year. This year's salary would be the ninth highest in the country, based on 2018 numbers.
The raise also puts him ahead of the highest salary that his predecessor ever receiver. Bob Stoops topped out at $5.55 million in his final year with the Sooners.
Via an open records request, the Tulsa Worldreceived the 15-page contract agreement between Lincoln Riley and Oklahoma.
The full deal runs through 2023, and is worth $32.5 million.
Riley will earn $6 million in 2019. The amount increases by $150,000 over the next four years and includes a $1 million bonus if he remains as the Sooners head coach on April 1, 2021 (which would fall before the third season of the contract).
Riley’s annual base salary is $325,000, and the majority of his multi-million dollar salary is paid from unrestricted private funds and/or outside athletics-related income.
Obviously, one of the most important factors from OU and the Sooners fans' perspective, is how this impacts the program's ability to retain Riley if and when the NFL comes calling. Just a few years into his head coaching career, and Riley has already been floated as a major target of the league.
If he were to leave after this season, it would come with a hefty price tag for his new employer.
The contract specifies the coach would be responsible to pay OU 22.5 percent (about $4.6 million) of the remaining guaranteed compensation. The amount drops about $1 million each year. On March 16, 2022, the amount will be waived by OU.
- Oklahoma retains royalty-free rights to use Riley's name and likeness, in perpetuity.
- Riley receives a $700,000 bonus every June 1, as long as he remains Sooners head coach.
- He will receive $50,000 per Big 12 Championship appearance, and $100,000 per win.
- He will receive $400,000 for a national title, $200,000 for a national championship game appearance, $150,000 for a CFP berth, $100,000 for a New Year's Six Bowl appearance, and $50,000 for a top five finish in the CFP rankings.
- If Oklahoma graduates 100-percent of its players, Riley receives $125,000. That scales down to $30,000 for a 65-percent graduation rate.
More details from this lucrative contract are available at the Tulsa World.