It feels like forever ago, but it’s only been about 2.5 months since Mike Gundy wore an OAN shirt on a fishing trip and wound up ultimately taking a considerable pay cut over it.
We already knew that his pay was cut by $1 million and one year was chopped off the end of his deal, and we generally knew that his buyout was taking a haircut too. Now, Scott Wright of The Oklahoman provides more details about how his buyout his cut.
1. Previously, Gundy was entitled to 75 percent of his pay if he were fired without cause. This meant his buyout was about $17 million. Now, there is one year less on his contract and he is entitled to 50 percent of the remaining money on his deal. Per the Oklahoman, this combined means “the university’s responsibility in a buyout is cut nearly in half.”
2. If Gundy is fired for cause, the buyout drops from $2.5 million to $2 million (this is all due to the final year being chopped).
3. If Gundy leaves on his own accord, the buyout he owes Oklahoma goes up from $3 million to $4 million.
For Gundy, this was one of the more expensive fishing trips in American history.