New North Carolina men's basketball coach Hubert Davis signed a five-year, $10 million contract that includes an expense allowance and compensation from program partners Nike and Learfield.
According to the Associated Press, the school released the contract terms Tuesday. The deal, which runs through the Tar Heels' 2025-26 season, features up to $1.1 million in potential annual bonuses from UNC.
Davis' incentives include potential payouts for winning the national or ACC Coach of the Year awards, along with a bonus if the team's NCAA academic progress rate (APR) is above 975, per 247Sports' Greg Barnes.
He also earns bonuses for regular-season or postseason ACC titles, for reaching the NCAA tournament and for each round of advancement during March Madness.
The 50-year-old former UNC guard returned to his alma mater in 2012 to serve as an assistant coach following a 12-year NBA career and seven years as an ESPN basketball analyst.
The program elevated him to the role of head coach last week following the retirement of Roy Williams, who'd led the Tar Heels coaching staff since 2003 and won three national titles.
"I am honored and humbled to be given the opportunity to lead this program,'' Davis said. "I would not be here without Coach Dean Smith, Coach Bill Guthridge and Coach Roy Williams; they taught me so much—and I'm eager to walk their path in my shoes and with my personality."
Davis' starting salary of $1.8 million for 2021-22 ranks 61st on USA Today's list of known college basketball coaching contracts.
North Carolina was one of the nation's top programs throughout Williams' tenure, including seven seasons with at least 30 wins and five Final Four appearances. However, UNC went 14-19 during the 2019-20 season, its first losing campaign in 18 years, and was eliminated in the first round of the 2021 NCAA tournament to finish an 18-11 season.
Davis will be tasked with getting the Tar Heels back into perennial championship contention.