OU football coach Brent Venables' salary, contract terms released by school

NORMAN — New OU football coach Brent Venables agreed to a six-year, $43.5 million deal, according to a document released by the school Friday.

It’s one of, if not the, largest contracts for a first-time head coach in college football history.

Venables will get $7 million the first season, increasing annually from there.

The contract still has to be approved by the OU Board of Regents, and terms can be modified. The regents aren’t scheduled to meet again until March.

The document was released after an open records request filed by The Oklahoman and other outlets.

Venables, 50, took over as the Sooners coach on Sunday after Lincoln Riley left to take over at USC.

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Venables will receive a $325,000 base salary with “additional and outside income from unrestricted private funds” adding $6,075,000 annually. That figure will increase by $100,000 each year of the deal, which runs through Jan. 31, 2028.

The school will also provide Venables with $600,000 annually as part of a “supplemental retirement plan” to be fully vested immediately and paid out monthly.

Venables’ deal includes a $400,000 bonus for winning a national championship.

Other terms of the deal, including buyout terms and other performance bonuses, were not included in the released document.

While Venables’ deal doesn’t quite match up with the 10-year, $95 million deal signed by Brian Kelly after he made the move to LSU from Notre Dame, it’s still a major deal for a first-time head coach.

His new OU contract is significantly larger than three other first-time head coaches hired by Power Five programs in recent weeks.

Virginia Tech’s Brent Pry agreed to a six-year, $27.5 million deal, Texas Tech’s Joey McGuire to a six-year, $20.2 million contract and Washington State’s Jake Dickert to a five-year, $13.5 million deal.

When Riley was elevated to head coach after Bob Stoops’ sudden retirement in the summer of 2017, his initial five-year contract called for him to make $3.1 million his first season.

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Riley agreed to an extension in July 2020, which carried an average annual value of $7.535 million through the 2025 season.

That contract called for a $4.5 million buyout.

USC, a private school, has not released the terms of Riley’s deal.

Venables was the highest-paid defensive coordinator in college football last season, making $2.5 million per season.

During his decade-long run on Dabo Swinney’s staff, he turned down multiple opportunities to become a head coach.

But after Riley’s departure, Venables was the Sooners’ top target, athletic director Joe Castiglione said.

Venables was a fixture on Stoops’ staff from 1999 to 2011, serving as co-defensive coordinator and then as defensive coordinator. He also coached the Sooners’ linebackers.

While OU has not officially released those numbers, ESPN reported that offensive coordinator Jeff Lebby would make just under $2 million annually.

Lebby’s hiring, as well as that of defensive coordinator Ted Roof and the retention of four coaches from Riley’s staff, was announced Friday as well.

This article originally appeared on Oklahoman: OU football: Brent Venables' contract, salary terms released