Alabama Head Coach Signs $11.7 Million New contract For 2024 Season…..
NASHVILLE, Tenn. — Despite a tough loss to Florida on Friday night in the SEC tournament quarterfinals, Nate Oats is thrilled to have signed a new contract extension to remain Alabama’s men’s basketball coach.
“I’ve had a really good five years here working with (Alabama athletics director Greg Byrne), (Alabama President Dr. Stuart Bell), the Board, and just everybody around the school,” Oats said follow the Tide’s 102-88 loss to the Gators. “I love it here. We’ve turned the program around.
“We’re a little disappointed tonight, obviously. We’d like to be playing tomorrow, playing for an SEC tournament championships, but we’re in the NCAA tournament. In the 13 years before we got here, they had only played in two. This will be four straight for us.”
Byrne announced in a statement on Friday that Oats signed a new contract that will go before the Board of Trustees for approval next week. In all, the University of Alabama board of trustees’ compensation committee will consider new contracts for Oats, Byrne, and the entire football staff when they meet Monday.
Details about Oats’ new contract were not immediately available. He previously signed an extension in February 2023 that runs through 2028-29, and includes eight-figure buyouts through next season.
“We are excited about the success of our men’s basketball program and Nate’s continued commitment to the University,” Byrne’s statement read. “We look forward to him leading our men’s basketball program for many years to come.”
Oats was paid $4.5 million this past season and has a $10 million buyout through March 14, 2025 under the terms of his current deal. That drops to $7 million after the 2025-26 season and $1 million after the following season. Oats was scheduled to be paid $4.7 million next season under his current deal.
The 49-year-old Oats has led Alabama for the past five seasons. The Tide won SEC regular-season and tournament titles in 2020-21 and 2022-23, and will begin play Friday night in the SEC tournament quarterfinals as the No. 3 seed. Oats has led Alabama to two Sweet 16 appearances, including as the NCAA tournament’s overall No. 1 seed last year.
This season, Alabama is currently 21-11 and was the 3-seed in this week’s SEC tournament before losing to Florida on Friday. The Crimson Tide are projected to be a 4-seed in the upcoming NCAA men’s basketball tournament. The official bracket will be announced Sunday.
“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 a way that I feel like we need to compete to be a top-10, top-25 team year in, year out.
“I appreciate their support and keeping me here. It takes my name out of some of the other job openings that are there. But probably not great timing with this loss tonight for that release, to be honest with you.”
In addition to Oats’ deal, Alabama’s trustees will also consider new contracts for all three of his assistant coaches: Ryan Pannone, Austin Claunch and Preston Murphy. Both Pannone and Claunch received two-year contracts when they were hired last year, with Pannone paid $330,000 and Claunch paid $275,000. Murphy was initially hired as a special assistant to Oats last year and did not have a trustees-approved contract, but was paid $380,000 according to university records.
Byrne, 52, has been Alabama’s athletics director since 2017. He last received an extension in August 2022, through 2029. The deal pays him between $1.5 and $1.9 million annually.
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