Oklahoma State coach Mike Gundy, who had spoken to Arkansas and Tennessee about their openings, will remain with the Cowboys, sources told ESPN.

Gundy received a four-year contract extension last year, increasing his deal at Oklahoma State to eight years. In 2011, the Cowboys had the best season in school history (12-1), finishing No. 3 in The Associated Press Top 25 poll.

The Cowboys finished 7-5 this season and will face Purdue in the Heart of Dallas Bowl on New Year's Day.

Gundy, who was quarterback at Oklahoma State from 1986-89, also is the school's all-time winningest coach.

"Mike Gundy has done an exceptional job, not only this season, but also since he was hired in January of 2005 in building a championship football program," Oklahoma State president Burns Hargis said last year. "He's done it the right way. He demands his student-athletes give the same dedication and effort in the classroom as they do on the field."