OSU signs Riley to contract extension
Oregon State University Director of Athletics Bob De Carolis announced Monday that head football coach Mike Riley has agreed in principle to a one year contract extension that will take him through at least the 2015 season.
The 55-year-old Riley is leading the Beavers into the Brut Sun Bowl Wednesday against Pittsburgh. The 2008 Pac-10 coach of the year has taken Oregon State to three consecutive bowl games and five in a six-year span during his second tenure.
"There is no question we are on the right track in all facets of the football program," De Carolis said. "We have enjoyed some of our best seasons ever with coach Riley at the helm, and he has developed a program that continues to compete at the highest level."
Riley is due to make a salary of approximately $1 million this season with included incentives. He had been working with a six-year contract that rolled over for every bowl appearance; the new contract will be at seven years and is structured similarly in that it will add a year back for every bowl appearance.
The Beavers enter Wednesday's game with the longest active bowl win streak in the Pac-10 Conference at four games. Oregon State has the second best record in the league over the last three seasons at 27-12 and has finished in the top 25 the past two years. The team is currently ranked No. 24 in the nation.
"I appreciate this commitment by Bob De Carolis and the university," Riley said. "I have a terrific job at a place that I truly love. The entire coaching staff has built a program in all areas that we are proud of. I look forward to many more successful seasons as the coach of this team."
Oregon State finished tied for second in this year's Pac-10 race at 7-2 after finishing third in 2006 and 2007 — three of the program's top four finishes in the history of the Pac-10 Conference. A preseason poll of media picked OSU to finish fifth or lower in each of those seasons.