Was Alabama’s $37.65M man Nate Oats offered the Kentucky job? Tide HC spills the beans on potential career option

Alabama basketball head coach Nate Oats was considered a top favorite to be the head coach of Kentucky after John Calipari's departure earlier this offseason. However, he chose to remain with the Crimson Tide, shutting down the rumors.

Oats clarified the reason behind his stay at Alabama on Wednesday, during a video interview with Bleacher Report's Seth Davis.

"The job was never offered in the first place. I don't want people thinking I turned it down, that wasn't the case," Oats said. "I took my name out of consideration before it would have ever gotten to that point."

Despite the rumors about him going to Kentucky, Oats said there were no offers. But he did admit that he considered the move at some point.

"To be even in the conversation — I mean, the job was never offered to me. It's not — it didn't get to that point at all," Oats added. "But there was a lot of speculation circulating around the country for a day — or part of a day there — that maybe I'd be in the mix. I actually thought about it."

Nate Oats, who led Alabama to the Final Four in April, also released a statement on Twitter, addressing Bama nation affirming his decision to stay.

"I am fully committed to this team and to this University," Oats said. "We have already accomplished some great things here, and there is nothing I want more than for the University of Alabama to win its first national championship in men's basketball. Despite any rumors to the contrary, rest assured that I will continue that pursuit as your head coach."

Nate Oats signs contract extension with Alabama

Nate Oats, who joined the Crimson Tide in 2019, agreed to a six-year 37.65 million contract worth $5 million per year in March. Oats will get $5 million in the first year of his new contract, with his salary going up to $7.55 million in the final year (2030).

Under his 2021 contract, he would have earned between $5 million in 2024-25 and $7.04 million in 2028-29. With the new deal, Oats is now among the top ten highest-paid coaches, according to USA Today.

Moreover, if any schools are interested in hiring Nate Oats for the first two years until March 2026, they will have to pay Alabama $18 million, per the buyout clause on his new contract. The buyout amount decreases to $10 million by March 2027. After that, it goes down to $4 million until March 2028 and reaches zero for the final two years.