SPOKANE, Wash. — Nate Oats has a new contract that makes him one of the highest-paid coaches in the country, but he doesn't appear to be getting complacent.
Not even two weeks since he signed his extension, Oats has won two NCAA Tournament games. Oats has led Alabama basketball back to the Sweet 16 for the third time in four seasons, having earned a top-four seed also for the third time in four seasons.
There's an argument to be made its Oats' best coaching job yet in Tuscaloosa, considering he lost most of his roster from a season ago and the entire coaching staff. Plus, the Crimson Tide looked to be on a downward trajectory to end the regular season.
And yet, Alabama is back in the Sweet 16, set to face No. 1 seed UNC on Thursday in Los Angeles.
In wake of Oats' extension, The Tuscaloosa News/USA TODAY examined contracts for the highest-paid public school men's basketball coaches to determine average annual value and how Oats stacks up. Contracts for coaches at private schools are not available to access through open-record laws.
Oats is tied for third in annual average value for the duration of the contract and is fourth in annual average value remaining in contracts. With Kansas' Bill Self, Kentucky's John Calipari and Auburn's Bruce Pearl all having lost in the first weekend, that makes Oats the highest-paid public school coach remaining in March Madness.
Here's a breakdown of how the contracts stack up in terms of average annual value.
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Oats ranks tied for third among public-school coaches in average annual value (AAV) over the course of the contract. The rankings:
1. Bill Self, Kansas: $9.14 million
2. John Calipari, Kentucky: $8.6 million
T-3. Nate Oats, Alabama: $6.275 million
T-3. Bruce Pearl, Auburn: $6.275 million
5. Tommy Lloyd, Arizona: $6 million*
6. Tom Izzo, Michigan State: $5.945 million
7. Rick Barnes, Tennessee: $5.52 million
8. Dan Hurley, UConn: $5.35 million
In terms of remaining average annual value (AAV), here is how the coaches rank:
Bill Self, Kansas: $9.265 million
John Calipari, Kentucky: $8.9 million
Bruce Pearl, Auburn: $6.525 million
Nate Oats, Alabama: $6.275 million
Tommy Lloyd, Arizona: $6 million*
Tom Izzo, Michigan State: $5.945 million
Rick Barnes, Tennessee: $5.925 million
Dan Hurley, UConn: $5.42 million
*Lloyd's new contract begins on April 1.
Both of these contracts are rolling contracts. The AAV calculation is based on Self's current 5-year contract because Self's contract doesn't add another year until the five years are up. His updated contract was signed in November 2023. Izzo has a similar setup in that his 5-year deal that began in 2022 doesn't add another year until the five years are up.
The value of the future years is currently the same as the last year for both Self and Izzo.
AAV is calculated as total compensation divided by number of years in the contract. So for the purpose of this exercise, Izzo and Self had their deals treated as if they conclude at the end of their current 5-year terms.
Izzo's AAV listed for this exercise doesn't include what Michigan State annually pays Izzo up front for private aircraft use because it can change each year. In one recent year, that amount was $0 because he didn't use his hours the prior year.
Meawhile, Self had private flight usage included in his AAV calculation here because he gets the same amount every year for flights: $240,000.
Self's contract is by far the most complicated of the group. The calculation of his AAV includes: Base salary, pro services, royalty payment, new contract earnings and the private jet allowance. It also includes a one-time signing bonus and an annual retention bonus that's vesting.
Izzo's AAV calculation also includes his $425,000 per year deal with Nike; the other coaches' compensation includes payments as consideration for activities including their involvement in shoe and apparel contracts. Izzo's contract with Nike has been added to his AAV calculation to better compare with other coaches' AAV calculations.
Hurley's AAV calculation also includes an annual retention bonus of $500,000.
Contributing: Steve Berkowitz, USA Today Sports.
Nick Kelly is the Alabama beat writer for The Tuscaloosa News, part of the USA TODAY Network, and he covers Alabama football and men's basketball. Reach him at nkelly@gannett.com or follow him @_NickKelly on X, the social media app formerly known as Twitter .
This article originally appeared on The Tuscaloosa News: Nate Oats contract: Average salary ranks among top coaches nationally
