February 6, 1998
PULLMAN, Wash. -- Washington State University Athletic Director Rick Dickson announced today that head football coach Mike Price, who guided the Cougars to a 10-2 season and the Pacific-10 conference championship, has signed an eight-year contract extension that will carry through Dec. 31, 2005.
"I am pleased to announce an agreement that assures our alumni, administration and friends that the direction of the WSU football program will remain in the capable hands of Mike Price for the next eight years," Dickson said in making the announcement at a noon press conference here Friday.
"Mike has demonstrated during his tenure to be an excellent representative of Washington State University," Dickson said. "In particular, in the four years I have worked with him, we have made some significant progress in developing a well balanced program that is competitive and graduates the student-athletes who represent this institution very well. With that in mind it became evident we needed to make a long-term commitment to continue that direction."
"I would like to thank Rick Dickson and Sam Smith for offering me the finest contract I have ever received," said Price, who garnered several national coach-of-the-year honors after taking WSU to the Rose Bowl for the first time in 67 years.
"I am very appreciative to the alumni, administration, fans, Cougar Club and friends for allowing me to represent you for at least the next eight years," Price added. "Washington State really is something special.
"Most of all I want to thank the players, assistant coaches and support staff for their hard work and effort. I am honored and proud to be associated with you," Price continued
The only blemish on WSU's regular season record was a loss at Arizona State. The Cougars finished 7-1 in Pac-10 competition, then took on eventual national champion Michigan in the Rose Bowl Jan. 1. Time expired in the Rose Bowl game with Michigan on top 21-16 and WSU in possession of the ball on the Wolverine 26 yard line.
The Cougar coach received the Eddie Robinson College Football Coach-of-the-Year Award, given by the Football Writers of America. He also is the recipient of the Bobby Dodd Coach-of-the-Year Award and was accorded the same honor by The Sporting News. The nine-year Cougar head coach also was picked by his peers, members of the American Football Coaches Association, as the district coach-of-the-year and a finalist for the organizations' national award.
"This contract will mark over a quarter of a century of what I consider a great partnership for me and Washington State University," said the Cougar coach, who began his association with WSU in 1965 as a player.
"I appreciate their (Smith and Dickson) patience and understanding in formulating this long-term agreement," Price said in explaining why the contract was not announced earlier. "There has never been a question where I wanted to coach. However, completing the contract took a little longer than expected. The Rose Bowl and preparing the team for their best effort was the most important focal point of my coaching career. Then capitalizing on our success in recruiting was our next priority. With those things completed, we were able to focus on the completion of this contract."
NOTE: Price's new contract includes three components: 1) base salary of $144,000, 2) outside income of $275,000, and 3) an annuity of approximately $50,000 per year, based on the number of years he stays at WSU.
