Here are the terms of Ohio State coach Jake Diebler's five-year contract
A full, finalized contract won’t be formally approved until May, but Ohio State has released the term sheet agreed upon by newly hired men’s basketball coach Jake Diebler.
The agreement, signed by both Diebler and outgoing athletic director Gene Smith on March 17, provides more information than the annual base salary of $2.5 million for the five-year contract announced the following day at Diebler’s introductory press conference.
Jake Diebler's contract specifics
Per the contract, which runs through April 30, 2029, Diebler is subject to a decreasing buyout should he leave the program early. The buyout figure is $5 million if he leaves prior to April 1, 2025, $3 million for the same date one year later, $1 million by April 1 in either 2027 or 2028 and zero afterward. Should Ohio State terminate his contract without cause, Diebler will be owed 65% of his annual salary on a monthly basis through the end of the contract.
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Diebler’s annual salary includes a few other perks. Ohio State will pay him a $1,200 monthly automobile stipend, a full golf membership and monthly dues to a mutually agreed-upon local course and tickets to games as well as access to a private jet. Diebler will be provided 12 tickets to each home football game, 30 tickets to each home men’s basketball game and 15 tickets to all pre- and postseason men’s basketball games.
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When recruiting or on official Ohio State business, Diebler will fly private, not commercial, with a maximum of 40 hours allowed per year. He also can utilize the private jet for up to 15 hours of yearly personal use.
After taking over for Chris Holtmann as interim coach on Feb. 14, Diebler led Ohio State to an 8-3 finish and was officially announced as the permanent coach March 17.
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This article originally appeared on The Columbus Dispatch: Ohio State releases more information about Jake Diebler's contract
