Oklahoma State’s college basketball head coach, Mike Boynton has found himself under a little bit of pressure in recent weeks. With his job under scrutiny, Boynton’s contract, salary, buyout clauses, and net worth are topics of interest for fans and analysts alike, reflecting both his value to the team and the commitment Oklahoma State has made to their head coach. With the Cowboys 4-10 in conference play, we take a look at Boynton’s contract and buyout if he were to be fired by Oklahoma State.
Mike Boynton has said in recent weeks that it is a case of teams with better players winning games against his Cowboys team. He has also said he is finding it difficult to recruit and keep talent at the Cowboys as their NIL resources are inadequate compared to other top college basketball teams.
Since it sounds like Boynton is making excuses as he gets ready to get kicked out the door, we take a look at how much it will cost Oklahoma State to fire their head basketball coach.
What is Mike Boynton’s Salary?
Mike Boynton is under contract with the Oklahoma State Cowboys until through the 2028 season. This long-term agreement underscored the university’s confidence in Boynton’s leadership and vision for the Cowboys’ basketball program when it was extended in 2021.
With an annual salary of $2.5 million, Boynton’s compensation package came at a rosier time for the Cowboys. They were 39-23 over the past two seasons when the deal was signed and were beginning to look like they could be a perennial NCAA Tournament team. However, things have not gone quite to plan for Boynton or the Cowboys since. They are now 20-30 in conference play over the past three years, and it is likely discussions are being had on his future at the Cowboys.
What is Mike Boynton’s Buyout?
Should Oklahoma State decide to terminate the contract before April 1, the university would be obligated to pay Boynton 75% of the remaining contract value. This currently means Mike Boynton’s buyout is approximately $7.7 million. This substantial figure demonstrates the university’s commitment to Boynton and serves as a deterrent against premature dismissal.
However, starting April 1, 2024, the buyout percentage decreases to 66.67%. At this juncture, with the contract’s remainder valued at $10 million, the buyout would then be $6.67 million, reflecting a carefully structured agreement to accommodate financial and strategic planning for both parties.
What is Mike Boynton’s Net Worth?
Mike Boynton’s net worth is currently estimated at around $5 million. This figure not only includes his earnings from contracts and salaries but also likely encompasses endorsements, speaking engagements, and other income sources associated with his high profile in college basketball.
