There was some concern among North Carolina football fans recently as rumors spread about Bill Belichick receiving some interest from the NFL. He had accepted the job with the Tar Heels, but his contract hadn't been signed yet. Because of that, even more rumors started to surface about Belichick potentially wanting to take an NFL job instead. Well, those rumors can officially be put to rest as Belichick has signed his contract, and details of the contract were released.

“UNC sent out a copy of Bill Belichick's contract,” Pete Thamel said in a post. “Here's the way they get to his $10 million salary. I've been told the deal is signed, which is why UNC has released the deal via state open record laws.”

The release details how Bill Belichick will earn $10 million annually, and it also goes over incentives/bonuses.

“The University shall pay Coach supplemental income in the aggregate amount of Nine Million Dollars ($9,000,000) annually, paid monthly on the last business day of the calendar month so long as Coach is employed as Head Coach. For the avoidance of doubt, although the Supplemental.”

The final $1 million is Belichick's actual base salary,

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“Base Salary. During the Term, the University shall pay Coach an annual Base Salary at an annual rate of One Million Dollars ($1,000,000) per year for services provided according to the terms and conditions of this Agreement, payable monthly and in accordance with the University's policies and standard payroll practices. The annual Base Salary shall be based on a twelve-month employment period commencing on December 12, 2024 (each such period a “Contract Year”) and shall be prorated for any partial Contract Year, including the period from December 12, 2029 to December 31, 2029. For all purposes under this Agreement, the term “Base Salary” shall refer to Coach's base salary rate then in effect pursuant to this Section, and shall not include any bonus, additional forms of compensation, supplemental income, benefits, or other amounts payable to Coach as provided in this Agreement.”

Here are some important things to keep in mind regarding incentives and bonuses for Belichick:

ACC title game appearance: $200,000
ACC title game win: $300,000
Non-CFP bowl: $150,000
Non-CFP Tier 1/Elite bowl game shall be defined as the Pop-Tarts Bowl, TaxSlayer Gator Bowl, and the Duke Mayo Bowl: $350,000
CFP participant: $750,000
CFP quarterfinals appearance: $1,000,000
CFP semis: $1,250,000
National title appearance: $1,500,000
National title win: $1,750,000

Bill Belichick has signed his North Carolina football contract, and there is no need for Tar Heels fans to worry about him going anywhere. Belichick is going to be one of the highest-paid coaches in college football.