Nate Oats contract: Salary, buyout, more from Alabama basketball coach's extension
Alabama basketball coach Nate Oats had his new contract approved by the compensation committee of the UA System Board of Trustees on Monday, and it makes him one of the highest paid coaches in college basketball.
He will make $5 million in the first year and will grow to $7.55 million in the final year. His buyout will be $18 million for the first two years of the deal if Oats leaves for another school. The deal extends him through March 14, 2030.
His contract is 100% guaranteed. If fired, however, he would have an obligation to "make a reasonable and good faith effort to pursue another head coaching position that involves an average annual compensation package equal to or greater than $3.5 million."
Oats, who is set to coach in a fourth straight NCAA Tournament this week, received a raise and a contract extension for the second consecutive season.
Oats previously ranked No. 10 among coaches with total pay of $4.53 million this season. That also had him ranked No. 4 among SEC coaches.
Kansas' Bill Self ($9.625 million), Kentucky's John Calipari ($8.539 million), Michigan State's Tom Izzo ($6.196 million), Auburn's Bruce Pearl ($5.716 million) and Tennessee's Rick Barnes ($5.7 million) made up the top five highest-paid public school coaches this season. His compensation for this season would rank just below that, but his compensation in two seasons would be in the top three.
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No. 4 seed Alabama is set to play No. 13 seed Charleston on Friday (6:35 p.m. CT, truTV) in Spokane, Washington in the first round of March Madness. Oats has made two Sweet 16 appearances over his previous four seasons at Alabama.
What is Nate Oats' buyout?
Oats will owe Alabama $18 million if he leaves in the first two years of his new contract. After March 31, 2026, that buyout falls to $10 million until March 31, 2027. After that, it falls to $4 million for the next year and $0 after that.
What is Nate Oats' salary?
Oats will be paid the following by Alabama:
Year 1 (2024-25): $5 million
Year 2 (2025-26): $5.51 million
Year 3 (2026-27): $6.02 million
Year 4 (2027-28): $6.53 million
Year 5 (2028-29): $7.04 million
Year 6 (2029-30): $7.55 million
What Nate Oats said about contract extension
After Alabama lost to Florida in the SEC Tournament, Oats was asked about the extension. News broke earlier that day of his new contract.
"We've got the program headed in the right direction," Oats said. "We've got the commitment from the administration that they're going to continue to support us in the way I feel like we can compete to be a top 10, top 25 team year-in and year-out. I appreciate their support in keeping me here, take my name out of some of the other job openings that are there. Probably not great timing with this loss tonight."
Nick Kelly is the Alabama beat writer for The Tuscaloosa News, part of the USA TODAY Network, and he covers Alabama football and men's basketball. Reach him at nkelly@gannett.com or follow him @_NickKelly on X, the social media app formerly known as Twitter.
This article originally appeared on The Tuscaloosa News: Nate Oats contract: Salary, buyout from Alabama coach's extension
