Editor's note: This story has been updated with news of Chris Holtmann's firing.

Though known primarily as a football school, Ohio State has a lengthy, rich and proud men’s basketball history.

For much of the past 40 years, the Buckeyes have been a consistent NCAA Tournament presence. Their 11 Final Fours rank them sixth among all Division I programs and put them ahead of the likes of Indiana, Louisville, Syracuse and UConn. Most of all, they have a national championship, which they won in 1960 with a star-studded team featuring, among others, Jerry Lucas and John Havlicek.

In recent years, though, Ohio State has consistently fallen short of that standard. That raised pressing questions about coach Chris Holtmann, whom the university fired on Wednesday after seven years with the program.

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Holtmann’s teams have never advanced past the first week of the NCAA Tournament in his six-plus seasons in Columbus, something his predecessor, Thad Matta, managed to do five times in his 13 seasons leading the program. One of those quick exits came in 2021, when the No. 2 seed Buckeyes were stunned by No. 15 seed Oral Roberts. Last season, Ohio State finished 16-19, its worst win percentage in a season since 1997-98.

The Buckeyes are 14-11 this season and 4-10 in Big Ten play following a 62-54 loss to No. 20 Wisconsin. The Buckeyes lost nine of 11 games following a 12-2 start, a stretch that includes defeats to struggling teams such as Michigan and Indiana. Holtmann finishes his Buckeyes tenure with a 137-84 record.

Here’s everything you need to know about Holtmann’s contract and buyout:

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Chris Holtmann contract details

• Years remaining after 2023-24 season: 4

• Average annual value: $3.5 million

Holtmann signed a contract extension in 2022 following a 2021-22 season in which his team went 20-12 and made the second round of the NCAA Tournament. The deal came as Holtmann’s original contract, which he signed in 2017 after coming to Ohio State from Butler, was set to expire following the 2024-25 season.

Under the new contract, Holtmann earns an annual base salary of $1 million — an increase of $450,000 from his previous agreement — and receives $1,365,000 a year for all of his various media obligations, an increase of $50,000. Starting on July 1, 2025, that media figure will rise to $1,665,000.

His total pay also includes things like media payments, equipment payments, beverage sponsor payments, a monthly automobile stipend, access to tickets, a country club membership and access to a private jet.

What is Chris Holtmann’s buyout?

Following his firing, Holtmann is owed his full remaining salary, which Ohio State announced Wednesday as $12.8 million. Had Holtmann left Ohio State, he would have owed money to the school: $2 million, had he departed before June 30.

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Chris Holtmann record year-by-year

Here is a look at how Ohio State has fared each season with Holtmann as its coach. Since starting his tenure 105-51, the Buckeyes have gone 30-30 since the 2022-23 season, including 9-25 in Big Ten play:

• 2017-18: 25-9 (15-3 Big Ten)

• 2018-19: 20-15 (8-12)

• 2019-20: 21-10 (11-9)

• 2020-21: 21-10 (12-8)

• 2021-22: 20-12 (12-8)

• 2022-23: 16-19 (5-15)

• 2023-24: 14-11 (4-10)

This article originally appeared on The Columbus Dispatch: Chris Holtmann buyout: Here's what Ohio State owes fired basketball coach