Though known primarily as a football school, Ohio State has a lengthy, rich and proud men’s basketball history.
For much of the past 40 years, the Buckeyes have been a consistent NCAA Tournament presence. Their 11 Final Fours rank them sixth among all Division I programs and put them ahead of the likes of Indiana, Louisville, Syracuse and UConn. Most of all, they have a national championship, which they won in 1960 with a star-studded team featuring, among others, Jerry Lucas and John Havlicek.
In recent years, though, Ohio State has consistently fallen short of that standard — which has raised pressing questions about coach Chris Holtmann.
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Now in his seventh season in Columbus, Holtmann’s teams have never advanced past the first week of the NCAA Tournament, something his predecessor, Thad Matta, managed to do five times in his 13 seasons leading the program. One of those quick exits came in 2021, when the No. 2 seed Buckeyes were stunned by No. 15 seed Oral Roberts. Last season, Ohio State finished 16-19, its worst win percentage in a season since 1997-98.
This season, things have only gotten so much better. Heading into a matchup Tuesday against No. 14 Illinois, Buckeyes are 13-7 overall, but just 3-6 in the Big Ten. Following a 12-2 start, they’ve lost five of their past six games, a stretch that includes defeats to struggling teams such as Michigan and Indiana.
Holtmann has had his successes. He won at least 20 games in each of his first five seasons. In January 2022, he became the third-fastest coach in program history to reach 100 wins with the Buckeyes. Several of his players have earned Big Ten honors and been selected in the NBA draft.
But taken together, the program’s shortcomings under his watch have painted an uncertain picture about Holtmann and the direction of the program, prompting some to wonder whether outgoing athletic director Gene Smith may make a move before he heads into retirement and Ross Bjork takes over in July.
“We have a lot of this season left to play, and we have coaches and players that are focused on winning every day,” Smith told The Dispatch last week. “I’m looking forward to seeing how this turns out.”
If such a decision were to be made, what would it mean financially for Ohio State? Here’s everything you need to know about Holtmann’s contract and buyout:
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Chris Holtmann contract details
- Years remaining after 2023-24 season: 4
- Average annual value: $3.5 million
Holtmann signed a contract extension in 2022 following a 2021-22 season in which his team went 20-12 and made the second round of the NCAA Tournament. The deal came as Holtmann’s original contract, which he signed in 2017 after coming to Ohio State from Butler, was set to expire following the 2024-25 season.
Under the new contract, Holtmann earns an annual base salary of $1 million — an increase of $450,000 from his previous agreement — and receives $1,365,000 a year for all of his various media obligations, an increase of $50,000. Starting on July 1, 2025, that media figure will rise to $1,665,000.
His total pay also includes things like media payments, equipment payments, beverage sponsor payments, a monthly automobile stipend, access to tickets, a country club membership and access to a private jet.
What is Chris Holtmann’s buyout if fired?
Should Holtmann be fired by the school without cause, he would be owed his full remaining salary. That means that if Holtmann is fired by April 1, 2024, he would be owed about $15 million.
Should Holtmann leave Ohio State, he would owe money to the school. If he departed before June 30, 2024, his buyout would be $2 million. That figure drops by $500,000 annually. In recent years, Holtmann’s name has been connected to other jobs, including Notre Dame last year.
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Chris Holtmann record year-by-year
Here is a look at how Ohio State has fared each season with Holtmann as its coach. Since starting his tenure 105-51, the Buckeyes have gone 31-31 in their past 62 games going back to late February 2022:
- 2017-18: 25-9 (15-3 Big Ten)
- 2018-19: 20-15 (8-12)
- 2019-20: 21-10 (11-9)
- 2020-21: 21-10 (12-8)
- 2021-22: 20-12 (12-8)
- 2022-23: 16-19 (5-15)
- 2023-24: 13-7 (3-6)