Report: Bill Belichick’s North Carolina contract still unsigned

Here’s another reason why people in North Carolina are nervous.

Bill Belichick, Tar Heels football coach has not yet signed his contract, according to Jonathan Jones of CBS Sports.

Belichick’s failure to sign the deal raises questions about whether he would owe a cent of his $10 million buyout if he were to rush for another job, particularly in the NFL.

Belichick signed a term sheet last month that laid out the basic parameters of the deal. It expressly contemplates the subsequent execution of a full contract, with more terms and details.

In many cases, the term sheet creates a binding contract. As Jones notes, the term sheet signed by Belichick specifically states that is not the case.

“The University proposes to enter into an employment agreement with Bill Belichick to serve as head football coach,” the term sheet states. “It is understood and agreed that these proposed terms and conditions will not constitute a binding agreement, and the parties intend to negotiate expeditiously and in good faith to finalize these terms and conditions into a detailed agreement.”

This is a problem for the school, if Belichick wants to walk away without owing a dime. The term sheet specifically states that this is not a contract. So apparently there is no contract.

Which helps explain why people at the school and ACC are feeling anxious about what might happen next. The best thing they have going for them is that no NFL team currently appears to be interested in Belichick. If that were the case, there would be nothing stopping him from shaking the tar off his heels and returning to the only level of training he had ever known.

That said, UNC would have to decide whether to take legal action if Belichick were to walk away without a buyout. One could easily argue, however, that the school has only itself to blame for not insisting that Belichick sign the contract.

Even if he has started working, he is essentially an at-will employee – if he does not have a binding contract. He may leave at any time, without or without cause and with or without notice.

So the lack of a contract becomes another thing to notice when it comes to whether Belichick has found a way out. And if the school or Belichick want us not to notice, there’s an easy way to make that happen.

Sign the damn contract.