University of Buffalo basketball coach Nate Oates has been signed to a contract extension that will keep him at UB thru the end of the 2023-24 season.  It also gives him a sizable pay increase from $600,000 to a base salary of $837,00 a year making him the highest-paid basketball coach in the Mid American Conference.

In addition to his base salary the new contract includes incentives for:

  • Victories in a a season
  • Division championship
  • Regular season championship
  • MAC championship
  • NCAA and NIT bids
  • NCAA and NIT championships

Those incentives easily will push his annual salary to well over a million dollars a year.

The new contract also includes a buyout clause that would allow Oates to leave UB even before next season even begins.  If he were to do that he would owe UB $750,000.

The contract signing came a short time before the Bulls opened the MAC Tournament with a 92-42 blowout win over Akron.  It advances the Bulls to Friday night's semi-final game against Central Michigan.