North Carolina’s football program has officially secured Bill Belichick’s services, following the signing of his employment contract, cementing his hiring that was announced last month. This movement comes amid speculation regarding the six-time Super Bowl-winning coach potentially returning to the NFL.
On Thursday, the university shared details of the contract, which had been signed by chancellor Lee Roberts and athletic director Bubba Cunningham. The agreement received the necessary approval from university trustees earlier that same day. Belichick finalized his deal on Wednesday, marking a significant shift as he embarks on his first venture into college football.
The newly finalized contract replaces the initial term sheet that was introduced during Belichick’s introductory press conference. As part of this agreement, the two parties have arranged a five-year contract, with guaranteed compensation for the first three years, amounting to an annual base salary of $10 million, alongside supplemental earnings and an additional $3.5 million available in bonuses. Notably, there is a stipulation for a $10 million buyout should Belichick choose to leave before June, which will subsequently reduce to $1 million.
Despite ongoing conversations about potential NFL opportunities, Belichick has been actively engaged in recruiting activities, as evidenced by his social media activity. Additionally, Michael Lombardi, a former NFL executive now serving as UNC’s general manager, took to social media to confirm Belichick’s dedication to the Tar Heels, stating that the NFL was not an option and urging an end to such speculation.
Specifics of the contract reveal various financial provisions, including an annual expense allowance of $100,000 and relocation expenses of the same amount. Furthermore, bonus structures are detailed, with incentives ranging from $150,000 for achieving eight regular-season wins to $350,000 for achieving twelve. Significant bonuses are also outlined for postseason achievements, with added incentives for CFP appearances, which could reach up to $1.75 million for a championship win. Perks include a country club membership and up to 25 hours of private aircraft use per year.
The announcement of Belichick’s contract arrived on the same day the Atlantic Coast Conference revealed its Labor Day weekend schedule, highlighting UNC’s matchup against TCU for Belichick’s coaching debut at home, set for 7:30 p.m. on ESPN.
Throughout his illustrious 24-year career with the New England Patriots, Belichick led the team to six Super Bowl victories and boasts a historic 333 wins in both regular and postseason games, making him second only to Don Shula, who holds the record with 347 wins in the NFL.
