Riley has been given a two-year contract that ends Jan. 31, 2017, where he will make $500,000 per year in Norman.
Riley also has a special incentive bonus in the contract that says he would receive a 10 percent bonus of his base salary (which is $265,000 so it would be $26,500) if the Sooners win the national championship.
It’s quite a step up for the 31-year-old Riley, who was making $275,000 per year at East Carolina, but it’s a considerable amount less than what Josh Heupel was making in the same role at OU. Heupel made $605,000 last season.
Riley’s salary at OU would have him ranked No. 11 among all Big 12 assistants for this last season. Mike Stoops is OU’s highest paid assistant coach at $850,000 per year and is second among all Big 12 assistants.
The other notable item from the agenda was involving the planned stadium renovations. A report came out Wednesday afternoon from SoonerScoop.com, saying OU president David Boren had already decided to postpone OU’s renovations.
Reasons given for the postponement include falling oil prices and OU’s lack of production on the field this last season, making it extremely difficult to raise funds and get donors to donate.
Boren, in talking to OU reporters after the meeting, said that is not the truth, at least not at this time. The item is set to be discussed at the Board’s meeting March 10 in the Tulsa area. Boren did admit oil prices have hurt all fundraising at OU in recent months.