Mike Boynton Given 5-Year Deal Worth $5M, OSU Owed $3M from Illinois In 90 Days

Mike Boynton just held a pretty terrific first press conference after which his first-year salary was announced to be $1 million which is the same amount Brad Underwood got in his first year. The deal is also reportedly for five years.

News: Mike Boynton's starting salary will be $1 million. Same as Underwood's this past season. Other particulars not available yet. #okstate

— Mark Cooper (@mark_cooperjr) March 27, 2017

Mike Holder said though Mike Boynton hasn't signed a contract yet, the starting point is about a five-year deal with $1 million per season.

— Sam Grubenhoff (@GHoffNWFDN) March 27, 2017

Underwood’s pay escalation went like this.

Year 1: $1M
Year 2: $1.1M
Year 3: $1.2M
Year 4: $1.4M
Year 5: $1.6M

Boynton was making $70,000 a year at Stephen F. Austin just three years ago. Now? He’s making $83,000 a month.

It remains to be seen if Boynton got the exact same deal as Underwood, although after what has transpired in Stillwater over the last five years I do suspect the price for a team to steal him will be $eleventy billion and the price for OSU to buy him out will be $0. We will update as more information becomes available.

As for the $3 million bounty Illinois is paying Oklahoma State, it is due before the end of June. That’s a tidy sum for an athletic department that appears to be short on cash.

“The contract requires that the buyout must be paid within 90 days,” an OSU spokesman told the Tulsa World. Here is what that looked like in the original Underwood contract.