Update: The reported amount is now over $5 million annually.

Original:

Nate Oats is reportedly receiving a multi-year extension with a pay raise. CBS Sports insider Jon Rothstein was the first to report the news about the Alabama basketball coach.

The new deal extends Oats for 2 seasons, running through the 2028-29 campaign and raising his annual salary to over $4 million. Rothstein’s report comes ahead of the University of Alabama’s board of trustees meeting scheduled for Friday.

Oats’ contract was last updated in February 2021 when he was extended through the 2026-27 season and saw his annual salary raised to over $3.2 million. Rothstein’s report does not mention Oats’ new buyout, a matter of interest to Crimson Tide fans hoping to keep the coach in Tuscaloosa.

Alabama hired Oats ahead of the 2019-20 season. Oats has posted an 80-39 overall record with the Crimson Tide, making the NCAA Tournament both seasons after March Madness was canceled in 2020. In 2021, Alabama reached the Sweet 16.

Oats’ squad is currently ranked No. 4 with a 19-3 overall record and 9-0 mark in conference play coming off a 101-44 win over Vanderbilt, the largest SEC victory in program history. UA faces LSU on Saturday.