Official: Nate Oats' Contract Extended Through 2028-29 Season
BIRMINGHAM, Ala. — It appears that Alabama is all in on Crimson Tide basketball head coach Nate Oats.
On Friday morning at the Hill Student Center on the campus of UAB, the University of Alabama System Board of Trustees elected to extend Oats' contract through the 2028-29 season. The contract begins with an annual base salary of $305,000 and a talent fee of $4.195 million for the 2023-24 season, increasing $200,000 each season through the 2028-29 season. The final season of Oats' current contract will still feature the same base salary of $305,000, with the talent fee being $5.195 million.
The two-year extension and pay raise makes Oats one of the top-10 highest-paid coaches in college basketball, and the fourth-highest paid in the Southeastern Conference. In addition to the salary, Oats also receives an expense account equal to $12,000 per year.
Here is Oats' full contract pay table:
The University of Alabama
"I am honored and humbled to receive a contract extension from The University of Alabama," Oats said in a statement. "As I have said many times, my family and I love this community, the city of Tuscaloosa and the University. I am incredibly proud of what we have been able to build during our time at UA which is a direct reflection of the student-athletes, coaches and staff who have all played a big part in our success. I am excited for what’s happening in the future of our program and the direction we are heading.
"I cannot thank President Stuart Bell, Chancellor St. John, The Board of Trustees and Greg Byrne enough for trusting me to lead this program for the long term."
Oats' buyout at UA also increased. Should Oats be hired between Jan. 22, 2023-March 14, 2024, Alabama would be owed a total of $12 million. The amount is slated to decrease to $10 million the following season, then to $7 million in the 2025-26 season.
The buyout then falls to $1 million in the 2026-27 season, then to $0 from March 15, 2027-March 14, 2029.
Here is the full buyout table from Oats' contract:
The University of Alabama
In addition to the salary and talent fee, Oats also has incentives in his contract at both the SEC and NCAA level. For the SEC, Oats receives a $50,000 bonus if the Crimson Tide wins or has a share in the conference's regular season title, and another $50,000 should the team win the SEC Tournament.
At the NCAA level, Oats will receive a $50,000 bonus if the Crimson Tide makes the tournament as well as $25,000 for each subsequent game the team wins. However, once the team reaches the Final Four, the bonus for a win is increased to $300,000.
Should the team win the national title, Oats would bring in a bonus of $500,000. Should Oats win SEC Coach of the Year, he receives a bonus of $25,000. If named National Coach of the Year, he would receive a $50,000 bonus.
It should be noted that all of Oats' incentive bonuses are cumulative. To view the full contract, click here.
Oats' contract extension was initially reported on Thursday by Jon Rothstein of CBS Sports, with Friday's decision by the board making it official. Prior to the extension, Oats' salary was around $3.225 million annually. His contract was also last extended in February of 2021 to run through 2027.
Alabama basketball is in the midst of a highly successful season thus far. In Oats' fourth season, The team has reached its highest ranking since 2002 and is currently ranked No. 4. The Crimson Tide is 19-3 overall and 9-0 in SEC play, sitting at the top of the SEC standings.
With his success in Tuscaloosa, Oats' name is often popular when it comes to job openings at high-profile schools around the country. With the extension, Alabama director of athletics Greg Byrne is trying to lock Oats down in Tuscaloosa.
The program has reached back-to-back NCAA tournaments and is currently on track to earn its first ever No. 1-seed in the NCAA tournament. The Crimson Tide was a 2-seed in 2021 after winning the SEC regular season championship and SEC tournament championship.
In his four seasons, Oats has led Alabama to its first regular season title since 2002, first tournament title since 1991 and first Sweet 16 appearance since 2004. Four players have been drafted in the NBA since 2020.
"Coach Oats has done an outstanding job leading our men’s basketball program, and we want him to continue doing so for many years to come," Alabama director of athletics Greg Byrne said in a statement. "He and his staff have lifted the program back to national prominence and built a product that is exciting to be a part of for our team and for our fans. We were confident Nate was going to be an outstanding coach for us when we hired him, and he is not only that, but also a great leader of our young men. It was important for us to make sure Coach Oats was compensated towards the top of the SEC and continue to have buyout measures in place that affirm the long-term commitment between both parties.
"We appreciate the support of President Bell, Chancellor St. John and our Board of Trustees for their approval in this process."
See also:
How to Watch: No. 4 Alabama Basketball at LSU
Midseason Report Card: Grading No. 4 Alabama Halfway Through Conference Play
