Nate Oats’ extension has been made official.

The announcement was made after the University of Alabama trustees approved the new contract Friday.

“I am honored and humbled to receive a contract extension from The University of Alabama,” Oats said in a program release.” As I have said many times, my family and I love this community, the city of Tuscaloosa and the University. I am incredibly proud of what we have been able to build during our time at UA which is a direct reflection of the student-athletes, coaches and staff who have all played a big part in our success. I am excited for what’s happening in the future of our program and the direction we are heading. I cannot thank President Stuart Bell, Chancellor St. John, The Board of Trustees and Greg Byrne enough for trusting me to lead this program for the long term.”

College basketball insider Jon Rothstein reported Thursday that Oats would be extended through the 2028-29 season and have his salary raised to over $5 million annually. The official terms show Oats’ salary will be $4.5 million next season and increase by $200,000 annually for the remainder of the contract.

Buyout details were not included in Thursday’s report. Friday, Alabama athletic director Greg Byrne said the program made sure that Oats’ buyout was one of the highest in college basketball.

Oats, 80-39 at Alabama with a 19-3 record and top-5 team this season, also has various incentives in his new contract.

“Coach Oats has done an outstanding job leading our men’s basketball program, and we want him to continue doing so for many years to come,” Byrne said in the extension announcement. “He and his staff have lifted the program back to national prominence and built a product that is exciting to be a part of for our team and for our fans. We were confident Nate was going to be an outstanding coach for us when we hired him, and he is not only that, but also a great leader of our young men. It was important for us to make sure Coach Oats was compensated towards the top of the SEC and continue to have buyout measures in place that affirm the long-term commitment between both parties. We appreciate the support of President Bell, Chancellor St. John and our Board of Trustees for their approval in this process.”