Bill Belichick officially signs North Carolina contract amid NFL speculation

North Carolina football coach Bill Belichick and school officials have signed his official employment contract, formalizing last month’s hiring after speculation that the six-time Super Bowl-winning head coach might opt instead for a return to the NFL.

The school released the contract Thursday, which was signed by chancellor Lee Roberts and athletic director Bubba Cunningham and approved by university trustees earlier in the day. Belichick signed the deal Wednesday.

The formal contract replaces the signed term sheet released as the school held its introductory news conference for the 72-year-old Belichick, who is taking over a college program for the first time.

The sides agreed to a five-year deal, though only the first three years are guaranteed with $10 million per year in base and supplemental salary with another $3.5 million available in bonuses. There was also a $10 million buyout for Belichick to leave until June, when it drops to $1 million.

Belichick’s name had been thrown about as the NFL hiring cycle continued into January, though the coach had been frequently showing up on social media in photos from his recruiting stops.

Additionally, Michael Lombardi — a former NFL executive now working as UNC’s general manager — had also taken to social media to reinforce Belichick’s commitment to the Tar Heels.

“His focus is on North Carolina football, hiring staff members and developing the team,” Lombardi posted last week on X in response to a story about Belichick having yet to sign a formal contract. “The NFL (isn’t an) option so please stop making it one. Thank you.”

Belichick’s deal includes:

— An annual $100,000 expense allowance

— $100,000 in expenses for relocating to North Carolina

— Bonuses for between $150,000 for winning eight regular-season games to $350,000 for winning 12 regular-season games

— A bonus of $200,000 for leading UNC to a conference championship game, reaching $300,000 if UNC wins that game

— Bonuses for appearing in the final poll for the College Football Playoff, ranging from $250,000 for being in the top 25 to $500,000 for being in the top five

What are the expectations for Bill Belichick in his first season at UNC?

— CFP appearance bonuses ranging from $750,000 for making the field to $1.75 million for winning the title

— Additional bonuses for bowl trips and the team’s academic performance

— And perks such as country-club membership and up to 25 hours per year of private-aircraft usage

Belichick guided the New England Patriots to six Super Bowl titles in his 24-year tenure there and has 333 career regular-season and postseason NFL wins, trailing only Don Shula’s 347 for the NFL record.

Reporting by The Associated Press.

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