Bill Belichick signs UNC contract – read the details of his buyout

Bill Belichick signed on the dotted line.

After a report last week that Belichick had not yet signed his contract with UNC sparked more speculation about the 72-year-old potentially considering a return to the NFL, the university released the contract on Thursday Belichick’s five-year contract after signing him on Wednesday.

The contract was posted on the school’s website in accordance with North Carolina’s open records laws, according to ESPN; UNC is a public university.

Article 13 confirms the details of the buyout, with Belichick owing the university $10 million if he terminates the deal before June 1 of this year.

“In the event Coach terminates this Agreement prior to June 1, 2025, Coach shall pay the University liquidated damages of ten million dollars ($10,000,000),” the contract states. “In the event Coach terminates this Agreement on or after June 1, 2025, Coach shall pay the University liquidated damages of one million dollars ($1,000,000). Coach must pay the liquidated damages within 180 days of Coach’s termination.

Belichick’s base salary is $1 million per year, and he will receive $9 million per year in additional income, which he will receive for “program support and promotional activities”, “fundraising” , the “media”, “the use of the coach’s name, likeness and coach”. resemblance” and “relations with manufacturers”.

There are bonuses based on the number of matches won per season, starting at $150,000 for eight wins. He can earn up to $350,000 if UNC wins 12 games.

Qualifying for the College Football Playoff would earn Belichick a $750,000 bonus, which could rise to $1.75 million if UNC wins a national championship.

The contract agreement was reached on December 12, allowing Belichick to take office before the deal was officially signed.

Mike Lombardi, whom Belichick hired as general manager of the football program, criticized reports linking Belichick to the NFL during an appearance on “The Pat McAfee Show” last week.

“I’m being vocal because I think a lot of them, especially the one that continues, are generated by someone who doesn’t like our program, who doesn’t like me, who doesn’t like Coach Belichick…they keep kicking something that doesn’t exist,” Lombardi said last Thursday.

Lombardi added that at the time, he had not yet signed his contract with the school.

The same day, Belichick’s girlfriend, 24-year-old Jordon Hudson, sent a message to the coach’s doubters by posting an Instagram photo of the two of them with the caption: “Pictured: two openly engaged people towards @uncfootball. »