Reports on Saturday morning indicated that Gundy and Oklahoma State football had agreed on a restructured contract to keep him in Stillwater. Gundy, 57, will return for his 21st season with the Cowboys in 2025.
The Oklahoman reported Gundy had been offered a restructured contract, which included a pay cut and other restrictions for him to remain the Cowboys coach.
According to the USA TODAY Sports coaches database, Gundy was the 17th-highest-paid coach during the 2024 college football season at $7.75 million and was set to be paid $7.875 million for the 2025 season. However, the restructuring will change that number.
In his first 20 years in Stillwater, Gundy has posted a 169-88 overall record and a 102-72 Big 12 record. He is the winningest coach in school history. However, Oklahoma State is coming off a 3-9 season in which it did not win a single conference game. Coordinators Kasey Dunn (offensive) and Bryan Nardo (defensive) were fired on Wednesday.
This story will be updated as more information is available.