OSU's Riley Earns Contract Extension Through Year 2012
April 26, 2007
From Staff Reports OSU Daily Barometer
April 26, 2007
Corvallis, OR (CSTV U-WIRE) -- On the heels of one of the most successful football seasons in the history of the Oregon State University program, head coach Mike Riley has agreed to a contract extension, Director of Athletics Bob De Carolis announced Wednesday.
The newly structured extension will have Riley under contract through 2012 with rollover provisions.
The 53-year-old Riley will make a guaranteed base salary of $850,000 in the first year of the contract, rising incrementally to $1.1 million in the final year. The contract also has several bonus related contingencies (including number of wins, bowl games and academic success rate) that could raise Riley's total compensation in the first year to an estimated $1.245 million.
Riley's contract also stipulates that a year will be added for every season the team participates in a bowl game. A bowl game appearance will also trigger bonuses for Riley's assistant coaches.
'We are thrilled to have Coach Riley under contract for the foreseeable future,' De Carolis said. 'The program has made tremendous strides on and off the field, and having stability at the top is a proven plan for future success. Coach Riley is a well-respected person and is a great ambassador for Oregon State University.'
Riley will enter his seventh year as the head coach at Oregon State this fall. He has led the program to a record of 38-34, including 30-20 over the last four seasons. The Beavers have won all three bowl games they have participated in under Riley, including last season's dramatic 39-38 victory over Missouri in the Sun Bowl. The three-game bowl win streak is the longest active mark in the Pac-10 Conference.
'We've done some very good things at Oregon State over the last few years and this is another sign of the commitment this university has to not only the football program, but the entire athletics department,' Riley said. 'I want to stress that this contract is as much about rewarding our talented group of assistant coaches as it is me. We are all very grateful to Oregon State University.'
(C) 2007 OSU Daily Barometer via CSTV U-WIRE