Alabama men's basketball coach Nate Oats and athletic director Greg Byrne were officially rewarded with raises and extensions on Monday.
The contracts received formal approval from the compensation committee of the UA System Board of Trustees.
Oats' new six-year contract calls for him to earn $5 million this year, rising to $7.55 million in his final year through March 14, 2030.
Bryne had announced Friday night that Oats had signed a new contract, but details were not released until Monday. Oats has led Alabama to the NCAA Tournament four years in a row, and the Crimson Tide received its first No. 1 seed last season.
The contract comes with a hefty $18 million buyout if Oats leaves in the first two years, which Byrne said is the highest in college basketball.
Oats' previous contract was worth $4.5 million annually through the 2029 season.
“We have enjoyed tremendous success during our five years at Alabama and we look forward to building on that foundation for many years to come,” Oats said in a statement.
Alabama gave Byrne an eight-year contract, which would pay him just over $2 million a year. Byrne took over as athletic director in January 2017 and was tasked with replacing Nick Saban, who won six of his titles at Alabama.
“Greg has done an incredible job leading our athletics program since his arrival, and certainly during this time of great change in our world of athletics,” university president Stuart Bell told trustees.
Trustees also approved deals for two of Oats' assistants: Preston Murphy will earn $450,000 a year under a two-year contract and Ryan Pannone's two-year contract is worth $360,000 annually.
Information from The Associated Press was used in this report.
