Alabama locked down Nate Oats for the foreseeable future with a lucrative contract extension that ties the men's basketball coach through the end of the 2028-2029 season, the program announced. Oats, 48, will earn roughly $5 million annually, making him one of the top 10 highest-paid coaches across college basketball.
Oats' extension has been in the works for months as Alabama looked to keep its head coach in town. The new deal adds two years to his previous contract with escalators each year of $200,000 after an initial $4.5 million salary. His buyout also ballooned to $12 million through March 14, 2024, falling to $10 million from the period of March 15, 2024 through March 14, 2025. It drops again to $7 million the following year before again falling to $1 million. There is no buyout in the final two years.
"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."
Oats previously signed a contract extension with Alabama in February 2021 that ran through the 2026-27 season and lifted his annual compensation to $3.2 million. Since then, the Crimson Tide have won both the SEC regular season and conference tournament and advanced to the Sweet 16. This season, they've climbed as high as No. 2 in the AP Top 25 poll while racing out to a perfect 9-0 record in league play.
"It shows a great commitment by us for what we're offering from a contract standpoint," Alabama AD Greg Byrne said, per AL.com. "It also shows a great commitment by Coach Oats that he wants to be at the University of Alabama, which we think is a great testimony on his part, as well."
Oats, who Alabama hired away from Buffalo in 2019, is 80-39 overall since taking over at Alabama. The 2021 SEC Coach of the Year has led the Crimson Tide to a remarkable 42-21 record in league play and has his team positioned right now to win the league for a second time in three seasons.