New Contracts Approved for Nate Oats, Alabama Basketball Assistants
TUSCALOOSA, Ala. — Alabama head basketball coach Nate Oats had a new contract approved by the UA system Board of Trustees on Monday afternoon.
The contract, which extends Oats until the March 14, 2030, makes him one of the top-5 highest-paid coaches in college basketball, now with an annual salary of $5 million dollars the first year, and escalates to $7.55 million by the final year of his contract. His buyout was increased as well, and now sits at $18 million in the first two years.
“I am excited and honored for the chance to extend my relationship with the University of Alabama,” Oats said. “I have said from day one, my family and I love this community, the city of Tuscaloosa and the University so I am thankful and appreciative for all the support we have received from President Stuart Bell, Chancellor St. John, The Board of Trustees and Greg Byrne. We have enjoyed tremendous success during our five years at Alabama and we look forward to building on that for many years to come.”
Oats has had immense success since joining the Crimson Tide back in March of 2019. He boasts a record of 113-53 in his time at Alabama, and became the fastest head coach to reach 100 wins in Alabama basketball history this past season.
Sunday, Alabama was selected to participate in the 2024 NCAA Tournament, marking the fourth straight tournament the Crimson Tide has been selected for under Oats. In all four tournaments, Alabama has been a top-6 seed.
During his Alabama tenure, Oats has made two Sweet Sixteens, won two SEC regular season titles, won two SEC tournaments, coached six NBA draft picks, and had two players named SEC Player of the Year.
This is the third contract extension Oats has received during his time in Tuscaloosa. He was extended in both the spring of 2021, as well as February 2023 before today's most recent extension. All three extensions have included a pay raise.
Alabama's assistant coaches Ryan Pannone and Preston Murphy also have new contracts that were approved by the Board of Trustees this afternoon. Murphy was extended one year, and will make $450,000 annually, while Pannone was extended two years, and will make $360,000 annually.
Assistant coach Austin Claunch was supposed to have a new contract approved as well, but he was recently hired as the newest head coach at UTSA.
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