The University of North Carolina finalized contract terms with Bill Belichick this week, as the legendary coach formally signed his agreement with the school after being announced as the program's new head coach in early December.
It is not uncommon for a university and a coach to take a while to sign the contract, as there are many stipulations to iron out. But now that Belichick has formally signed the agreement, here are some of the key terms in his contract:
Key Terms of Bill Belichick's North Carolina Contract
- Belichick signed a five-year contract with North Carolina, and the agreement runs through December 31, 2029. However, only the first three years of the contract are fully guaranteed (through December 31, 2027).
- He will be paid $1 million annually in base salary, with incentives that are performance-based, including wins, ACC titles, College Football Playoff appearances (and success within, up to and including the national championship). There are also other incentive metrics for Belichick, including academic progress rate of the program, use of Belichick's Name, Image, and Likeness (NIL) and others
- If Belichick leaves the school prior to June 1, 2025, Belichick would be required to pay the university $10 million. If Belichick leaves on or after June 1, 2025, he would be required to pay a $1 million buyout.
Belichick will begin his coaching career at North Carolina on Saturday, Aug. 30 against TCU at Kenan Memorial Stadium in Chapel Hill.
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This article was originally published on www.si.com as UNC Releases Full Bill Belichick Contract, Including Buyout Details.
