Wednesday afternoon, multiple sources including and 107.7 The Franchise in Oklahoma City (KRXO-FM), reported that Oklahoma Sooners head coach Lincoln Riley reached an agreement with the school on a contract extension.

Riley's extension increases his 2019 season salary to $6 million, the highest head coach salary in the Big 12 Conference, and in Oklahoma history.

John E. Hoover from KRXO-FM provides an additional breakdown concerning Riley's extension:

Per terms of his new 5-year, $32.5 million deal, Riley will make $6 million in 2019, which ranks one spot ahead of Texas’ Tom Herman ($5.5 million).

Riley’s scheduled increases — which includes an annual bump of $150,000 plus a one-time, $1 million on April 1, 2021 — allows him to average $6.9 million a year over the life of the contract, which was extended through Jan. 31, 2024. Riley is scheduled to make $6.15 million in 2020, $7.3 million in 2021, $7.45 million in 2022 and $7.6 million in 2023.

Also, OU defensive coordinator Alex Grinch will be paid a salary of $1.4 million per year.

Riley becomes the eighth highest paid college football coach in the country with the extension.

The breakdown, per conference, for top ten highest paid coaches is: five from the SEC. two from the Big Ten, two from the Big 12 and one from the ACC.

Oklahoma opens the 2019 season August 31 vs. Houston, then hosts Texas Tech for their Big 12 Conference opener on September 28, and then plays against Texas at the Cotton Bowl on October 12.

Last season, the Sooners lost to Alabama in the Capital One Orange Bowl 45-34, which was a College Football Playoff semi-final game.

More From Talk 103.9 & 1340