Alabama discloses the salary, buyout, and other terms of Nate Oats’ new contract.
Nate Oats, the head coach of Alabama basketball, received a sizable rise on Monday after his new contract was approved by the UA board of trustees pay committee. In the first year of his new contract, Oats will earn $5 million in salary. Should another school choose to acquire him, they will have to pay a substantial buyout fee.
Through the 2030 season, when the current six-year contract expires, Oats will have earned $7.55 million. Deal expiration date is March 14, 2030.
Oats’ base salary accounted for half of his entire income. Remaining portion will be given for fulfilling speaking, media, and other commitments.
A other university will owe Alabama $18 million if it employs Oats away from Alabama during the first two years of the contract. Greg Byrne, director of athletics at Alabama, said he thought it was the largest buyout of its kind in the nation.
After dropping to $10 million for the third season of the contract and $4 million in the third, the buyout owed to Alabama is eliminated for the remaining two years of the pact. The amended agreement became operative on March 15.
There were numerous perks attached to the agreement. In addition to earning $50,000 for qualifying to the NCAA Tournament, Oats stands to gain $50,000 for winning both the SEC regular-season and tournament titles.
If he wins outside of the Final Four, he can get $25,000 once he gets to the final dance. $300,000 will be awarded for a victory in the Final Four, and $500,000. for winning the entire competition.
Oats would receive $650,000 if they made it all the way through the NCAA Tournament since the final two prizes do not stack. Winning national coach of the year ($50,000) and SEC coach of the year ($25,000) will also earn him money.
Oats can receive an additional $25,000 if they meet specific academic requirements, such as an 85% graduation rate and an NCAA-approved APR score.
Oats’s new contract was revealed on Friday, not long after the position at Michigan, where he spent more than ten years coaching high school basketball, became available.
Oats is a member of the Crimson Tide for his fifth season. Alabama has already given him two extensions; the first one paid him $4.5 million year and ran through the 2029 season.
Alabama’s 2023–24 season is still ongoing. In the NCAA Tournament, the Crimson Tide was given the No. 4 seed and will take on Charleston in their opening match on Friday.
Oats was not the only coach from Alabama to get his contract accepted. Along with his staff, Kalen DeBoer was also approved by the committee after being appointed in January to succeed Nick Saban.
Several assistant contracts for the Crimson Tide basketball team were also granted. Ryan Pannone and Preston Murphy both signed contracts that extend until the 2026 campaign.
