In his final time to preside over a University of Oklahoma Board of Regents meeting, David Boren had a parting gift for OU athletic director Joe Castiglione.
An anniversary gift, of sorts, as just 10 days ago Castiglione celebrated his 20th year helming the Sooner athletic department.
Castiglione, 60, received a contract extension and big raise on Thursday at the OU regents meeting in Norman.
Joe C.’s existing contract was extended one year to 2022, and his base salary was increased from $375,000 to $450,000.
According to terms of the deal, Castiglione’s annual total compensation amounts to $1.55 million, which includes a marketing, fundraising and personal services element (through private donations) that was increased from $730,000 to $790,000 a year. Castiglione also gets an annual stay bonus each October, and the amount of that compensation was increased from $110,000 to $150,000, as well as income from a supplemental retirement plan (that amount was increased from $60,000 to $160,000).
Castiglione also will receive a stay bonus of $400,000 if he stays through June 30, 2020, and an additional amount of $600,000 if he remains on the job through June 30, 2023.
Boren said Castiglione “has literally changed the culture of the athletic department at the University of Oklahoma.”
Castiglione said he was “eternally grateful. Humbling moment to hear those kind words from President Boren and Chairman (Clay) Bennett and all the regents who have said something today.”
Boren is retiring after 24 years as OU’s president, effective June 30. The regents meet again on June 18-19, but new president James Gallogly will oversee those proceedings.
Boren will always be known as a builder — there has been some kind of major construction somewhere on campus every year during his tenure — but his greatest legacy will be bringing Castiglione in from the University of Missouri to pull Sooner sports out of the red and transform it into one of the most lucrative, most successful and one of the few self-sustaining collegiate athletic departments in the country.
According to data compiled by USA Today, OU ranked sixth nationally in total revenue at more than $150 million during the 2015-16 academic year. OU remains one of just seven college athletic departments that is self-sustaining without any subsidies. Rather than siphon revenue from the university, OU is one just of a handful of schools that receives money back from its athletic department revenue.
The Sooners have won 18 national championships during Castiglione’s tenure. Boren pointed out that one more would account for half of the school’s entire collection of national titles.
Castiglione has won numerous awards as AD of the year during his time in Norman. He will be inducted into the Oklahoma Sports Hall of Fame this summer. This fall, he joins the College Football Playoff selection committee after previously serving on the NCAA Tournament men’s basketball selection committee.
Columnist John E. Hoover, previously co-host of “Further Review with Hoover & Rew,” is the Franchise College Football Insider. Catch him on air every day in in Oklahoma City and Tulsa: Monday 12:15 p.m., Tuesday 3:30 p.m., Wednesday, 8:15 a.m., Thursday 10:15 a.m., and Friday 3:30 p.m. Listen at fm107.7 in OKC, fm107.9/am1270 in Tulsa, on The Franchise app, or click the “Listen” tab on The Franchise home page. Hoover also covers the Big 12 for Sporting News and Lindy’s magazine and is a feature writer for Sooner Spectator magazine. Visit his personal page at johnehoover.com.