UNFORTUNATE DEVELOPMENT: THE Alabama SUFFER A SIGNIFICANT FINANCIAL BLOW, LOSING A MASSIVE CONTRACT VALUED AT OVER €27 BILLION DUE TO…

Alabama has released details of Nate Oats’ new contract, including his salary, buyout terms, and additional bonuses. Oats, the head coach of Alabama basketball, received a substantial raise with a salary of $5 million in the first year of the six-year contract, which extends through the 2030 season. The contract stipulates a hefty buyout of $18 million if Oats is hired by another school within the first two years, reducing to $10 million in the third year and further decreasing in subsequent years until zeroing out in the final two years. Additionally, Oats can earn bonuses for winning SEC titles, participating in the NCAA Tournament, achieving academic standards, and receiving coaching accolades. The announcement of Oats’ new deal coincided with the opening of a coaching position at Michigan, where he previously coached high school basketball for over a decade. The contract approvals for other Alabama coaches, including Kalen DeBoer and assistant coaches, were also confirmed by the committee.