Mizzou Athletics Director signs contract extension

COLUMBIA, Mo. (KMIZ)

The University of Missouri signed Athletics Director Laird Veatch to a three-year contract extension.

Mizzou Athletics announced the extension on Friday, the two-year anniversary of Veatch's first day on the job at MU. The University of Missouri Board of Curators approved the extension at its meeting in April.

Mizzou Athletics did not release details of the contract. ABC 17 News has requested a copy of the document.

In his two-year stint in charge, Veatch helped reduce the athletic department's negative operating balance, generate record levels of revenue, and oversee the development of several new facilities across multiple sports.

Under Veatch's direction, Mizzou athletics introduced new premium seating for men's and women's basketball, moved the gymnastics program to compete in Mizzou Arena full time, added a new playing surface to Taylor Stadium and most notably, continued to develop the north end zone a part of Memorial Stadium's Centennial Project.

"I'm incredibly grateful to President Choi and the Board of Curators for their trust and support," Veatch said in a release published by the school. "This extension reflects the collective work of our coaches, staff, student-athletes and supporters who have embraced our 'Will to Win' and who believe in what Mizzou Athletics will become."

Mizzou has appeared in two football bowl games, two NCAA men's basketball tournaments and 20 other national team championship events under Veatch. Mizzou Athletics increased total revenue by $14 million to a record $182 million while reducing negative operating costs by 40% in the previous fiscal year.

Veatch's initial Mizzou contract paid him a $900,000 base salary and $200,000 in non-salary compensation. The original contract also includes $200,000 of deferred compensation deposited into the fund each year on May 1.