Bruce Waterfield/OSU Athletics

New OSU Coach Underwood's Contract Approved

Brad Underwood will be paid $1million in his first season as head coach of the Cowboys, and his five-year contract is worth a total of $6.3 million.

New Oklahoma State basketball head coach Brad Underwood’s contract was approved by the Oklahoma State University Board of Regents at their regularly scheduled meeting Friday in Warner on the campus of Connors State College. 

At the same time, the Regents also approved a deal that will save the athletic department $3.3 million in the divorce with former head coach Travis Ford. Ford, who has since been named the head coach at Saint Louis University, will receive a lump sum buyout of $3.9 million of the possible $7.2 million he was scheduled to receive paid out over the duration of his contract. Ford will be paid prior to May 23.

Underwood will make $1 million in 2016-17. His salary increases at $100,000 jumps the second and third years and $200,000 the fourth and fifth years. The contract runs through the 2020-21 season. 

Underwood's salary is low by Big 12 standards but is a significant raise from the $425,000 he was making at Stephen F. Austin.

There are a number of incentives in Underwood's contract including $50,000 for winning the Big 12 regular season, $35,000 for winning the Big 12 Tournament, $35,000 for making the NCAA Tournament, $40,000 for each NCAA Tournament win, $25,000 for Big 11 Coach of the Year honor, and $50,000 for a National Coach of the Year award.

Underwood's deal also includes a number of incentives, ranging from making the NCAA Tournament to being named national coach of the year.

Underwood has been a blur since being hired having hired three assistant coaches, recruiting with even a trip to Turkey to offer a seven-footer and numerous appearances from Altus to New York City.

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