The University of Alabama's board of trustees on Wednesday approved the contract for Nate Oats, who became the men's basketball coach at Alabama on March 27, after four seasons as head coach at the University at Buffalo.
The News obtained a memorandum of understanding in March that outlines Oats' contract terms at Alabama through an open records request. Oats will earn an annual salary of $2.462 million a year for five years: a base salary of $275,000, a talent fee of $2.175 million a year and he has an expense account of $12,000 a year.
Alabama introduced Oats as its head coach on March 28, four days after UB was eliminated from the NCAA Tournament, and less than two weeks after he signed a five-year contract extension at UB worth $837,000 annually. That would have made him the highest-paid men's basketball coach in the Mid-American Conference.
Oats' contract terms at Alabama also outline that the school agreed pay UB Oats' buyout of $750,000.
If Alabama terminates Oats without cause prior to March 14, 2020, the school will owe him $9,187,500. That total decreases by $1,837,500 a year, through March 15, 2023.
If Oats terminates his contract at Alabama prior to March 14, 2020, he owes the school $8 million. That buyout decreases by $2 million each year through March 14, 2023, and drops to a $1 million buyout if Oats terminates his contract prior to March 14, 2024.