Murray, also the cleanup hitter and center fielder for the Oklahoma baseball team, is No. 38 overall on baseball analyst Keith Law's Big Board.
Murray had been quiet this offseason about potential scenarios related to the baseball draft. But Riley indicated Thursday during a caravan event in Tulsa, Oklahoma, that he has had an understanding with Murray and his family that, regardless of where he gets drafted, he would stay with the Sooners to play quarterback, at least this season.
"I knew the deal when we were getting into it. [They have] lived up to their word in every part of it," said Riley, who added that Murray wouldn't be playing summer baseball and instead would work out with the football team. Murray said last month he was still unsure as to whether he'd be playing summer baseball.
A former five-star recruit, Murray originally signed with Texas A&M before transferring to Oklahoma. He backed up Heisman winner Baker Mayfield last season and completed 18 of 21 passes for three touchdowns in a limited role.
Riley has yet to declare Murray the starter over sophomore Austin Kendall, who is also vying for the starting job.