Jake Diebler Would Receive 65% of Salary if Ohio State Buys Out His Contract

By Andy Anders on April 18, 2024 at 11:08 am
Jake Diebler

Ohio State released its full contract details with Jake Diebler on Thursday, unveiling a balanced buyout structure for both parties.

Should the Buckeyes terminate Diebler without cause prior to the end of his five-year contract, they will be responsible for 65% of his salary through the conclusion of the remaining contract term. With the newly minted head coach set to make $2.5 million in salary each year, that would equate to a buyout of roughly $1.625 million per year remaining, or just more than $135,000 per month.

If Ohio State were to let Jake Diebler go tomorrow, the program would be on the hook for less money than it owed former head coach Chris Holtmann for his buyout in February. Holtmann's buyout concluded at $12.8 million, though his hiring to be the head coach at DePaul mitigated some of that cost. Under the current language, if the Buckeyes elected to fire Diebler tomorrow, they'd be responsible for roughly $8 million.

Should Diebler terminate his contract with Ohio State before its April 30, 2029 conclusion, he'll owe the Buckeyes the following amounts:

  • $5 million if he terminates the contract before April 1, 2025
  • $3 million if he terminates the contract after April 1, 2025, but before April 1, 2026
  • $1 million if he terminates the contract after April 1, 2026, but before April 1, 2028
  • $0 after April 1, 2028.

The full terms of Diebler's contract also include a $1,200 monthly automobile stipend, 12 tickets to each Ohio State football game and 30 tickets to each Ohio State basketball game. As previously reported, his contract also includes a list of on- and off-court incentives.

Big Ten Conference Champion or Co-Champion $25,000
Big Ten Tournament Title $50,000
Participation in first round of NCAA Tournament $25,000
Participation in Sweet 16 $50,000
Participation in Elite Eight $75,000
Participation in Final Four $100,000
National Championship $250,000
Big Ten or National Coach of the Year $50,000
Cumulative Team GPA of 3.0-3.4 $50,000
Cumulative Team GPA of 3.5 or more $100,000

The contract also states that Diebler will have up to 40 hours of private jet use for recruiting visits and other Ohio State business, as well as up to 15 hours for personal use. Diebler will also receive a full golf membership with paid monthly dues at an agreed-upon Columbus-area golf course.

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