Nate Oats agrees to contract extension with Alabama as coaching carousel heats up

Nate Oats and Alabama made things official with a long-term contract extension on Friday.

Before SEC Tournament play starts for the Crimson Tide, Athletic Director Greg Byrne let everyone know that the program is planning on locking up its basketball coach for the foreseeable future. The move still awaits approval, but Byrne noted how excited the program was for Oats to be sticking around in a statement on social media:

“Nate Oats has signed a new contract that will go before the Board of Trustees for approval next week,” Byrne said. “We are excited about the success of our men’s basketball program and Nate’s continued commitment to the University. We look forward to him leading out men’s basketball program for many years to come.”

pic.twitter.com/Sy5LFpCy9b

— Greg Byrne (@Greg_Byrne) March 15, 2024

The coaching carousel has been heating up as of late. Louisville let go of Kenny Payne and Michigan parted ways with Juwan Howard. Both were jobs that Oats could have theoretically been a candidate for prior to signing this extension.

Since Oats’ first season with Alabama 2019-2020, he has led the team to a 113-52 record along with 2 SEC regular season titles, 2 SEC Tournament titles, and 3 March Madness appearances. It’s no wonder that ESPN’s Jeff Borzello reported that the program wants to make Oats 1 of the 5 highest paid coaches in the sport.

BREAKING: Nate Oats and Alabama have agreed a long-term contract extension that will make him one of the five highest-paid coaches in the country, sources told ESPN. Needs board approval. Oats has led the Tide to two SEC regular-season titles and two conference tourney titles. pic.twitter.com/nJqaqnmaUC

— Jeff Borzello (@jeffborzello) March 15, 2024

Per that report, Oats is set to join a prestigious list of coaches. The current top 5 highest paid coaches by yearly salary are Bill Self ($9.6 million), John Calipari ($8.5 million), Tom Izzo ($6.2 million), Bruce Pearl ($5.72 million), and Rick Barnes ($5.7 million) in that order per Front Office Sports.

The Crimson Tide have reached the Sweet 16 twice under Oats already. The other NCAA Tournament appearance in the 2021-2022 season ended with a loss to 11-seeded Notre Dame in the First Round.

Oats has definitely changed the culture of Alabama men’s basketball. Before he came to Tuscaloosa, Alabama had been to just 7 NCAA Tournaments in the 21st century. Outside of his first season in 2019-2020 where he only won 16 games, Oats has won at least 19 games or more in the regular season. Previous head coach Avery Johnson took Alabama to 1 NCAA Tournament in his 4 seasons with the program.

Alabama finished 4th in the SEC at the end of the 2023-2024 regular season behind Auburn, Kentucky, and Tennessee. The team is led in scoring by former Ohio guard Mark Sears with 21.1 ppg. This season’s scoring numbers were a career-high for Sears, who is in his 2nd season with Alabama since transferring from the Bobcats after the 2021-2022 season.

Oats and Alabama will be playing Florida on Friday after securing a double-bye in the SEC Tournament. Tipoff will be at approximately 9:30 p.m. ET as Oats’ quest for his 3rd conference tournament title begins on SEC Network.