Newly hired Ohio State assistant men’s basketball coach Jake Diebler signed a term sheet that pays him $250,000 a year until June 30, 2021, according to documents requested by The Dispatch.

Diebler, who was hired in April to replace Mike Schrage, is still having his full contract formalized, a standard procedure. He can receive university-approved increases as soon as Sept. 1, 2020, but he can earn bonuses along the way.

Should the Buckeyes win the Big Ten regular season or conference tournament title, Diebler will earn an 8.5% raise, $21,250. The same goes if the Buckeyes reach the Final Four, and a national championship win would net him a bonus of 15%, $37,500.

Ohio State also helped Diebler cover the costs of relocating from Vanderbilt and temporary housing for no more than six weeks. Diebler also receives benefits such as tickets to football and basketball games and a monthly car stipend.

An Ohio native who played at Valparaiso from 2005-09, Diebler was Ohio State’s video coordinator from 2014-16 before working as an assistant at Vanderbilt for the past three seasons. He is the older brother of former OSU star Jon Diebler.

Schrage, who was named head coach at Elon University and started his coaching career as an administrative assistant at Mississippi in 1998, was making a base salary of $325,000 in his final season with the Buckeyes.

ajardy@dispatch.com

@AdamJardy