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Old 05-12-2011, 11:32 PM   #1
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Default U of Oklahoma approves $16.6M deal for Lon Kruger

The AP reports:

The University of Oklahomaís Board of Regents voted Thursday to approve a seven-year, $16.6 million contract for new menís basketball coach Lon Kruger.

The regents met in executive session for over a half hour before resuming their meeting and voting unanimously to approve the deal, which will pay Kruger $2 million over the course of the next year.

Kruger will receive a base salary of $250,000, a $1.45 million annual payment for personal services and fund-raising and a $300,000 bonus each May for staying another full season with the Sooners. The contract includes an automatic $100,000 raise each year and a $500,000 bonus if Kruger completes five seasons and is still at Oklahoma at the end of June 2016.
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