Coach Hubert Davis did not win the championship, but he will still be able to benefit from racing the Tar Heels in the NCAA Championship.
According to his contract, Davis will receive an additional $575,000 in exchange for reaching the fourth final. Had UNC won the national title, Davis would have been able to raise another $250,000.
WRALSportsFan’s Joe Giglio writes that Davis signed a 5-year contract with UNC last year worth $9.75 million with an additional $250,000 in expense allowance and a chance to earn $1,075,000 in bonuses each season.
The contract would save North Carolina some money, compared to both former men’s basketball coach Roy Williams, and the rest of the ACC team.
Of the 15 coaches at ACC in 2021, only Boston College’s Jim Christian ($1.45 million, according to USA Today’s database of college basketball coaches) earned the lowest.
When Davis was hired, UNC sporting director Bubba Cunningham told WRAL that his contract would be similar to other coaches with his experience. According to USA Today, Michigan’s Joan Howard, who has gone down a career path similar to Davis, was set to make $2.1 million in 2021.
Williams made $4.1 million in 2021, according to USA Today, which included a reduced base salary after the sports division made cuts to higher salaries due to the pandemic.
Duke coach Mike Krzyewski tops the list of ACC coaches in 2021 payout with $7 million.
Davis’ deal includes a base salary of $400,000 for each of the five years. His additional income for his first season will be $600,000 and increase by $100,000 each year from the agreement.
In addition, Davis will receive $250,000 from Nike and $500,000 from Laerfield for each year of the contract.
Joe Giglio of WRALSportsFan contributed to this report.