CHAPEL HILL, N.C. (WNCN) — The University of North Carolina has released the contract terms and conditions for Bill Belichick, who was officially announced as the Tar Heels’ new head football coach.
According to the terms sheet, the 72-year-old Belichick will have a five-year deal through December 2029. His base salary will be $1 million, in addition to $9 million in supplemental income. Only the first three years of the base salary and supplemental income are guaranteed.
If the school terminates Belichick’s contract before June 1, 2025, Belichick will receive a buyout of $10 million. Belichick will receive a buyout of $1 million if the school terminates his contract on or after that date, according to the terms sheet.
The terms sheet says Belichick is eligible for bonuses up to $3.5 million per year based on milestones like how many games the Tar Heels win and some academic goals. The highest bonus is $1.75 million for winning the College Football Playoff National Championship.
Belichick will receive an expense allowance of $100,000 annually as well as relocation costs and temporary housing until Aug. 1, 2025. He will also receive a courtesy car and membership at the Chapel Hill Country Club, according to the contract, and will be allowed to continue to make money from endorsements and media appearances.
The contract also says there will be a budget of up to $1.5 million per year for a general manager for the football program “for a duration that matches the head coach.”
The terms sheet was released after the UNC Board of Trustees approved Belichick’s contract Thursday morning. It can be viewed in full on the UNC website.
The veteran NFL coach replaces another Hall of Famer, Mack Brown, who was fired the week of Thanksgiving. Though Belichick won six Super Bowl rings with the New England Patriots in the NFL, he has never coached on the college level before.