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Riley will sign contract extension

12/29/2008

Posted by ESPN.com's Ted Miller

Coach Mike Riley and Oregon State are in the process of reaffirming their marriage vows.

Riley has agreed in principle to a one-year contract extension that will take him through at least the 2015 season, the school reported Monday afternoon.

Riley, 55, who will lead the Beavers in the Brut Sun Bowl on Wednesday against Pittsburgh, was the 2008 Pac-10 Coach of the Year and has taken the Beavers to three consecutive bowl games and five in a six-year span.

"There is no question we are on the right track in all facets of the football program," athletic director Bob De Carolis said in the statement. "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 will make $1 million this season, with incentives. He had been working with a six-year contract that rolled over with every bowl appearance. The new contract will be seven years and is structured similarly in that it will add a year back for every bowl appearance.