Alabama trustees approve Nick Saban's contract extension, details released
Members of the Alabama system board of trustees compensation committee approved the recent contract extension and details of the compensation deal for coach Nick Saban on Monday.
The university announced it had agreed on the extension with Saban in early June, a deal that would add three years to his contract, keeping him in Tuscaloosa through at least February 2029, the Tuscaloosa News reported.
His base salary will remain $275,000. His talent fee for 2020-21 was $8.425 million and has grown at a rate of $400,000 annually. It will reach $11.225 million in the final year of the extension. That means Saban will be the first college coach to reach $10 million in annual recurring compensation during this contract in 2023-24.
Saban will also receive an $800,000 completion benefit each year through 2025 upon finishing each season.
Saban was previously signed through the 2025 season.
Saban has been at Alabama for 14 seasons, racking up an tremendous record of 170-23 during that time. He has won seven national championships, including winning six as the leader of the Crimson Tide program.
He’s also led Alabama to seven SEC championships during his time in Tuscaloosa.
In an earlier statement when the contract was first announced in June.
“Terry and I are pleased and happy to sign another contract extension that will keep us in Tuscaloosa through the end of our career,” Saban said. “Our family calls Tuscaloosa and the state of Alabama home, it’s a place where our roots now run deep. This agreement gives us the chance to continue to impact the lives of the young men and their families who choose to play football and get an education at Alabama. We want to thank the Board of Trustees, Chancellor St. John, President Bell, Director of Athletics Greg Byrne, our athletics administration, the football staff and the whole University community for their support.”