Oklahoma State football is facing a crossroads with longtime head coach Mike Gundy. Once seen as the face of the Cowboys’ rise to national relevance, Gundy’s program has spiraled over the last two seasons.
With a historic loss to Oregon and a shocking upset at home against Tulsa, fans and boosters are asking: What would it cost Oklahoma State to move on from its most iconic coach?
How Much Does Oklahoma State Owe Mike Gundy?
Per Pete Nakos of On3, Oklahoma State would owe Gundy $15 million if they decided to part ways after the 2025 season. That number remains fixed at $15 million for both the 2025 and 2026 seasons before dropping to $10 million in 2027.
With his restructured contract, Oklahoma State would owe Mike Gundy $15 million. Cowboys have now lost 11 straight to FBS opponents.
Could be major overhaul of Oklahoma State athletics ahead.
https://t.co/qwedgE5dHp https://t.co/iupcBYVBW8 pic.twitter.com/7UCswpihrs
— Pete Nakos (@PeteNakos_) September 20, 2025
Gundy’s restructured contract, signed in December 2024, reduced his base salary by $1 million but maintained lucrative buyout terms. His deal pays him $6.75 million in 2025 with annual raises of $125,000 moving forward. The renegotiated contract was designed to create a smoother transition of coaching for the university, allowing Oklahoma State to plan for succession if Gundy’s struggles continued.
Oklahoma State and Mike Gundy fall to Tulsa.
The Cowboys paid the Golden Hurricane $300,000 for the game.https://t.co/paXE1TZ3qa pic.twitter.com/9g0BRWLjUH
— On3 (@On3sports) September 20, 2025
For a program that is now 1-2 after a humiliating 19-12 home loss to Tulsa, those buyout figures loom large. The Cowboys have now lost 11 straight games to FBS opponents, sparking speculation that major changes could be on the horizon for Oklahoma State athletics.
Gundy’s Legacy vs. Present Struggles
Since taking over in 2005, Mike Gundy has become synonymous with Oklahoma State football. He is the second-longest tenured coach in the FBS, trailing only Iowa’s Kirk Ferentz. Over 21 seasons, Gundy has delivered:
- More than 165 career wins
- 12 bowl victories
- Two 12-win seasons
- The highest AP Poll ranking in school history
A former Cowboys quarterback himself, Gundy earned three Big 12 Coach of the Year awards and turned Stillwater into one of the conference’s most respected programs.
However, the last two seasons have been anything but kind. Oklahoma State went 3-9 in 2024, failing to win a single Big 12 game and missing a bowl for the first time since Gundy’s debut season. This year, Gundy’s once-untouchable status looks fragile after a record-setting 69-3 blowout loss at Oregon and a shocking home defeat to Tulsa, their first in Stillwater since 1951.
Gundy and Oklahoma State Have a Tough Road Ahead
The Cowboys’ struggles have raised questions about whether Gundy should be part of the program’s long-term future. With his restructured contract, the athletic department took steps to prepare for an eventual transition, but as fan frustration mounted, that timetable may accelerate.
KEEP READING: Oklahoma State Faces $15M Mike Gundy Decision as HC Hits Rock Bottom After Oregon Loss
If Oklahoma State decides to cut ties soon, the $15 million buyout would be a significant hurdle but not impossible, especially with booster support. At the same time, the program must weigh Gundy’s legacy as a legendary figure against the current downward spiral threatening to derail the Cowboys’ future in the Big 12.
With Big 12 play looming, every game may now serve as a poll on whether Mike Gundy deserves the chance to engineer another turnaround or if Oklahoma State will be writing one of the most expensive checks in its history.
