1:14 PM
The contract for Venables is worth $43.5 million over six years, making it one of the richest contracts for a first-year head coach in college football history, according to sources.
The Oklahoma University Board of regents needs to approve the deal, which averages $7.25 million annually and runs through the 2027 season. Venables' salary will increase by $100,000 each year through the life of the contract, and he will collect a $400,000 bonus for winning the national championship, sources told ESPN.
Venables was the highest-paid defensive coach in college football, with a salary of $2.5 million a year. Venables turned down multiple head-coaching opportunities before returning to Oklahoma, where he worked from 1999 to 2011.
The Sooners pay a lot of money for their offensive coach. According to sources, Jeff Lebby is set to make just under $2 million a year.
Lincoln Riley left this month to take the USC head-coaching job. Bob Stoops, who was recently in the College Football Hall of Fame, will coach the Sooners in the bowl game.
