TUSCALOOSA, Ala. (WHNT) – The University of Alabama’s Athletic Director Greg Byrne announced Friday that head basketball coach Nate Oats and UA have agreed to a raise and contract extension through 2029.

The Univeristy of Alabama System Board of Trustees approved the extension on Friday.

Coach Oats’ new agreement will run through March 14, 2029, and extend his current contract by two seasons. His base salary and talent fee for 2023 is $4.5 million.

The base salary will begin increasing each year, starting in 2024, and be worth an average of about $5 million annually, according to CBS Sports College Basketball Insider Jon Rothstein.

“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. 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,” said Byrne.

In four seasons as head coach of the Crimson Tide, Oats has led Alabama to an 80-39 overall record, a 2021 SEC regular season and tournament championship, and two straight NCAA tournaments.

Under Oats, Alabama is on pace to make the NCAA tournament for a third consecutive season, marking the first time this has happened since 2004-06. The team is ranked fourth in the current AP poll, the highest a Crimson Tide basketball team has been ranked this late in the season since 1976-77.

Oats also has four straight top-15 recruiting classes under his belt at Alabama, the first time this sort of streak has occurred for Alabama basketball in the modern era. He’s also had four players selected in the NBA Draft and eight of his former players have gone pro.

“I am honored and humbled to receive a contract extension from The University of Alabama. 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,” Oats said.