Associated Press

Oklahoma coach Jeff Capel agreed to a contract extension today, ending speculation that he would leave the Sooners to take the open South Carolina position.

The new deal will keep the 33-year-old coach, who took OU to this year's NCAA tournament in his second season, at the school through the 2013-2014 season.

OU athletic director Joe Castiglione said Capel's new contract calls for him to be paid 1 million-50,000 dollars a year plus incentives. The contract also will pay him $100,000 per year if he stays after six years.

Capel thanked the school for believing in him and the program, and said the new contract will allow him to build on the momentum begun this season.

After receiving a $100,000 raise last year, Capel had been making $750,000 annually on a contract that ran through June 30, 2012.

The board of regents would have to formally approve of any changes to Capel's contract. The board's next scheduled meeting is set for early May in Norman.