College Basketball
Ohio State Basketball Coach Chris Holtmann Owed $14 Million in Buyout After Being Fired
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All posts by David EvansUpdated14 Feb 2024
Ohio State has parted ways with men’s basketball coach Chris Holtmann, who was in his seventh season. Despite a contract extension through 2027-28, Holtmann’s tenure ends with the university owing him a significant buyout of $14 million. This decision follows a series of disappointing performances by the Ohio State Buckeyes, who have struggled in recent seasons under his leadership.
Chris Holtmann Buyout
Chris Holtmann’s departure from Ohio State comes with a hefty financial implication – a $14 million buyout.
This figure is a result of the contract extension he signed in the summer of 2022, which was intended to keep him at the helm through the 2027-28 season. However, with the early termination of his contract, Ohio State is obliged to pay this substantial sum.
Chris Holtmann Salary
During his tenure at Ohio State, Holtmann earned an annual salary of around $3.5 million, not including potential bonuses and incentives.
His compensation package placed him among the highest-paid college basketball coaches, reflecting the university’s initial confidence in his ability to lead the team to success. But that failed to pan out, and now the Buckeyes are left holding the bag.
Why Ohio State Fired Holtmann
Holtmann’s firing comes in the wake of a disappointing 14-11 overall record and a 4-10 mark in the Big Ten this season. The decision followed a loss at No. 20 Wisconsin, further underscoring the team’s underperformance.
Under Holtmann, the Buckeyes started strong in his first season but failed to maintain momentum, not advancing past the first weekend in five NCAA Tournament appearances. The past two seasons have seen a notable decline, with the team losing 14 of 15 games in the 2022-23 season, ending the season 16-19, and experiencing a similar downturn in the current season,
It would be hard to justify continuing paying Holtmann with the team on course to miss its second successive NCAA tournament, so now the Buckeyes are on the hunt for a new head basketball coach.
Chris Holtmann Record at Ohio State
| Season | Overall | Conference | Standing | Postseason |
|---|---|---|---|---|
| 2017–18 | 25–9 | 15–3 | T–2nd | NCAA Division I Round of 32 |
| 2018–19 | 20–15 | 8–12 | T–8th | NCAA Division I Round of 32 |
| 2019–20 | 21–10 | 11–9 | T–5th | Postseason canceled due to COVID-19 |
| 2020–21 | 21–10 | 12–8 | 5th | NCAA Division I Round of 64 |
| 2021–22 | 20–12 | 12–8 | T–4th | NCAA Division I Round of 32 |
| 2022–23 | 16–19 | 5–15 | 13th | |
| 2023–24 | 14–11 | 4–10 |
| Record at Ohio State: | 137–85 (.617) | Conference Record: 67–64 (.511) | |
