NORMAN — Brent Venables agreed to a six-year contract with an average annual salary of $7.25 million to become the OU head football coach, according to a document released by the school on Friday.
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 by The Oklahoman and others.
Venables’ base salary from the school will be $325,000 with “additional and outside income from unrestricted private funds” adding $6,075,000 annually, increasing by $100,000 each year of the deal, which runs through Jan. 31, 2028.
The school will also provide Venables with $600,000 annually, fully vested immediately and paid monthly, in a supplemental retirement income plan.
The contract is one of, if not the, largest for a first-time head coach.
While other performance bonuses are likely in the final deal, the released agreement includes a $400,000 bonus for winning the national championship.
Buyout terms were not included in the released document.
Venables was hired Sunday to replace Lincoln Riley, who left a week earlier to take the job at USC.
This article originally appeared on Oklahoman: OU football: Brent Venables’ contract, salary terms released