Men’s Basketball: Details of Diebler’s incentives, privileges and buyout structure released

Ellen Geyer
Tue, 23 Apr 2024 01:21:51 +0000
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Head coach Jake Diebler looks on from the sidelines during Ohio State’s 81-77 win over Cornell in the first round of the NIT Tournament. Credit: Caleb Blake | Photo Editor

Last week, Ohio State released more details on the contract of newly appointed men’s basketball head coach Jake Diebler. The five-year deal pays Diebler roughly $2.5 million annually, including built-in bonuses for certain achievements.

If the Buckeyes win the regular-season Big Ten Conference title or make the NCAA tournament, Diebler gets an additional $25,000. For a Big Ten tournament title, Sweet 16 appearance, Big Ten or National Coach of the Year, or cumulative team GPA between 3.0 and 3.4, it’s $50,000; for a showing in the Elite Eight, it’s $75,000.

A GPA above 3.5 or Final Four appearance are worth $100,000. Should he bring Ohio State its first national title since 1960 – the only in school history – Diebler would be rewarded $250,000, but would no longer be eligible for the installment from the Final Four.

Beyond that, Diebler also gets a membership to a Columbus golf club of his choice, $1,200 a month for his car and access to a private jet, with up to 40 hours of recruiting or business use and 15 hours of personal use. He’ll also receive 12 tickets to each football game and 30 to each home men’s basketball game.

Additionally, the agreement also includes a mutual buyout structure.

If Diebler is terminated before the April 30, 2029, expiration date, he’ll be owed 65% of his outstanding salary, roughly $1.6 million for each year remaining.

If he chooses to leave before the contract ends, Diebler will be penalized, too. Departing in the first year would cost him $5 million, $3 million in the second year, and $1 million in the third, with no penalty after April 2028, which is the beginning of his last covered season.