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.
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 $450K thousand annually, while Pannone was extended two years, and will make $360 thousand 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.
This story will be updated.
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