Ohio State men’s basketball head coach Chris Holtmann will be paid $3 million annually through the 2024-25 season, according to a non-finalized copy of his contract.
The Lantern received the contract through an open records request to the university.
Holtmann will receive an $850,000 base compensation with $1.315 million for media-related matters, $825,000 for apparel and $10,000 for appearances with Coca-Cola.
If Holtmann leaves Ohio State prior to spending four years with the program, he will have to pay back the university $3 million for every year of his contract he did not complete. Departing from the program after the 2021-22 season would require Holtmann to pay the university a total equal to the sum compensation of his three assistants for each year not completed in his contract.
The contract also states that Ohio State will reimburse Holtmann for any expenses incurred during his termination of his contract at Butler due to acceptance of the head coaching position at Ohio State.
A university spokesman clarified to The Lantern that Ohio State will reimburse Holtmann for his buyout from Butler, which The Dispatch reported was an expense of $2 million.
Holtmann has the potential to earn additional compensation if Ohio State reaches certain thresholds.
He would earn $20,000 if the Buckeyes are the Big Ten regular-season champion or co-champion. If the team wins the conference tournament, he would make $40,000.
If the Buckeyes participate in the NCAA Tournament, Holtmann would receive $40,000. He would earn an additional $20,000 if Ohio State makes it to the Elite Eight and another $20,000 for reaching the Final Four. If the Holtmann leads the Buckeyes to their first national championship win since 1960, he would earn a $100,000 bonus.
Holtmann is also subject to earn money based on Ohio State’s men’s basketball team’s achievements in the classroom.
If the team earned a 3.0 GPA, he would make $50,000. If the team earned a 3.5 GPA, he would make $150,000.
Holtmann is allowed to use a private airplane for recruiting purposes if he has to travel farther than 200 miles from Columbus. He is allotted $65,000 per year for flights. Holtmann is also able to use the private aircraft 20 hours each year for his personal use.
Holtmann will receive $1,200 per month for two vehicles. He also receives a golf membership to a course of his choice, as long as the university agrees on the choice.
Holtmann, a native of Nicholasville, Kentucky, will be provided with 30 men’s basketball season tickets, 15 preseason and postseason men’s basketball tournament tickets, 12 tickets to each home football game and two parking passes to each home football game.
Editor’s Note 6/14: The information on which expenses the university will reimburse Holtmann for has been updated with comment from an Ohio State spokesman.