Pending approval by the OU Board of Regents, Capel will receive a guaranteed $1,050,000 annually through 2014, a raise from the $750,000 guaranteed contract he was under previously.

He also stands to earn performance incentives the university did not release, but which are likely similar to the bonus clauses from the previous contract. They included incentives tied to Big 12 Conference and NCAA tournament performances, coach of the year awards and academic achievement.

In addition, if Capel remains at OU through the 2014 season, he will receive a $600,000 stay bonus -- $100,000 for each of the next six seasons -- which would make his salary comparable to those of current Big 12 earnings leaders Rick Barnes of Texas and Bill Self of Kansas.

As it stands, the raise to $1,050,000 pushes Capel from the lower earnings tier he shared with the likes of Iowa State's Greg McDermott, Nebraska's Doc Sadler and Colorado's Jeff Bzdelik.

"I want to thank the University of Oklahoma, especially President (David) Boren and Joe Castiglione, for the continued belief in me and in our program," Capel said in an OU-released statement. "Our program made tremendous progress this season and the new contract will allow us to build on our momentum."

It will allow OU fans to sleep easier after the recent explosion of Capel-to-South Carolina scuttlebutt which caught fire about the time the Sooners advanced into the NCAA tournament.

Capel reiterated his hopes to remain at OU as the Sooners finished a 23-12 season with a second-round loss to Louisville in the East Region. But he also acknowledged both South Carolina's interest and the desire for an enhanced contract to the World after OU's elimination.

Meanwhile, OU athletic director Joe Castiglione remained steadfast that the university would be "proactive" in retaining Capel. Thursday, he delivered on that affirmation.

"We greatly appreciate the positive momentum which continues to build under the leadership of Jeff Capel," Castiglione said in the statement. "His work ethic, character, passion for excellence and his ability to inspire is truly generating enthusiasm for Oklahoma basketball."

"Jeff Capel has done an outstanding job of rebuilding OU's basketball program," Boren said, "with even greater potential for success in the future."

The Sooners went 16-15 in 2006-07, Capel's first season in Norman after he was hired from Virginia Commonwealth to replace Kelvin Sampson. OU raised his initial $650,000 salary to $750,000 and extended his contract through June of 2012 following that season.