BUFFALO, N.Y. — University at Buffalo basketball coach Nate Oats has a new contract.

UB and Oats have agreed on a new five-year contract that runs through the 2023 season, the university announced on its website Thursday.

Oats is currently leading the Bulls to one of their best seasons in program history. UB (24-8 overall) is the No. 1 seed in Mid-American Conference tournament and advanced to the semifinals with an 89-74 win over Central Michigan.

"We are very pleased Nate will remain at UB to continue the great success the men's basketball program has achieved under his leadership," said Kathy Twist, UB's interim director of athletics, in a statement. "He has proven himself to be a tremendous leader on and off the court and a highly respected member of the UB community and the Mid-American Conference."

Oats was named the 2018 Mid-American Conference Coach of the Year on Wednesday after leading the Bulls to a school-record 15 conference wins and the school's first-ever outright MAC regular season title.

"I want to thank Kathy Twist and President Satish Tripathi for their confidence in both our staff and our program," Oats said in a statement. "We are extremely proud of the accomplishments we have had over these past few years and look forward to continuing to grow the men's basketball program here at Buffalo. I love this group of players that I get to coach every day and am excited to continue to lead this group. Crystal and I have enjoyed raising our family in Western New York and we are glad that we can continue to do so in such a special place."

Oats — with a 61-38 career record over three seasons — is the fastest coach in UB history to reach 60 wins.