Before Alabama basketball’s loss on Friday against Florida in the SEC Tournament semifinals, UA athletics director Greg Byrne announced on social media that head coach Nate Oats was receiving an extension. The news came shortly after the Michigan job opened, and multiple reports state it will make Oats one of the five highest-paid coaches in college basketball.

After the game, Oats said he was thrilled to remain at Alabama.

“I’ve had a really good five years here working with Greg, Dr. (Stuart) Bell, the board,” Oats said. “Just everybody around the school. I love it here. We’ve turned the program around. A little disappointed tonight obviously. We’d like to be playing tomorrow, playing for the SEC tournament championship.”

The Crimson Tide was the No. 3 seed in the tournament, earning a double-bye before falling to the Gators. UA will find out its NCAA Tournament fate on Sunday.

Oats spoke of the program’s trajectory under his tenure. He came to Alabama from Buffalo before the 2019-20 season.

“More than the NCAA Tournament, the 13 years before we got here, they’d only played in two,” Oats said. “This will be four straight for us. We’ve got the program headed in the right direction, we’ve got the commitment from the administration that they’re going to continue to support us in a way that I feel like we can compete to be a top 10, top 25 team year in, year out. I appreciate their support in keeping me here. Take my name out of some of the other job openings that are there. Probably not great timing with this loss tonight, to be honest with you.”

The terms of Oats contract aren’t yet known. The deal will be approved, along with several other athletics contracts, including new football coach Kalen DeBoer’s, at a Monday UA board of trustees meeting.

The NCAA Tournament selection show is scheduled for 5 p.m. CT Sunday. It will be aired on CBS.