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Report: Steve Lutz’s Deal Worth $13.5 Million over Five Years

Lutz is set to average $2.7 million in his first five years at OSU.



[Devin Wilber/PFB]

Contract details for new Oklahoma State basketball coach Steve Lutz have started coming out.

According to The Oklahoman‘s Scott Wright, Lutz’s deal is five years, $13.5 million. Here is how it breaks down:

2024-24 — $2.4 million
2025-26 — $2.55 million
2026-27 — $2.7 million
2027-28 — $2.85 million
2028-29 — $3 million

That’s quite the pay raise for Lutz, who was reportedly making $650,000 at Western Kentucky.

His new deal at OSU also comes with some additional benefits, according to Stillwater News Press’ Marcus Trevino. Those include a membership at Karsten Creek, four tickets to OSU football games, a luxury suite in Gallagher-Iba Arena, eight tickets for home basketball games and 12 postseason tickets.

Lutz’s deal also reportedly includes some performance-based incentives:

Big 12 regular-season championship — $100,000
Big 12 tournament championship — $50,000
NCAA Tournament appearance — $50,000
Second Round appearance — $50,000
Sweet 16 appearance — $50,000
Eight Eight appearance — $50,000
Final Four appearance — $50,000
NCAA championship game appearance — $50,000
NCAA title — $150,000

Lutz’s $2.7 million average ranks about 50th nationally, according to USA Today’s database, though that database isn’t totally updated at this point (it still shows Mike Boynton at OSU, for example) and also is without some private schools’ numbers.

Here is how Lutz’s numbers stack up to the available Big 12 schools in that database. Again, this isn’t a perfect list. It’s not fully updated. It doesn’t included Darian DeVries at West Virginia yet, nor BYU’s numbers. But, this shows you sort of the ballpark:

Bill Self (Kansas) — $9.6 million
Scott Drew (Baylor) — $5.1 million
Kelvin Sampson (Houston) — $4.6 million
Tommy Lloyd (Arizona) — $4.1 million
Jamie Dixon (TCU) — $3.8 million
Jerome Tang (Kansas State) — $3.2 million
Grant McCasland (Texas Tech) — $2.9 million
Bobby Hurley (Arizona State) — $2.8 million
Steve Lutz (Oklahoma State) — $2.7 million
Tad Boyle (Colorado) — $2.6 million
Wes Miller (Cincinnati) — $2.6 million
T.J. Otzelberger (Iowa State) — $2.5 million
Craig Smith (Utah) — $2.1 million
Johnny Dawkins (UCF) — $1.7 million

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