By Brian Murphy, WRAL

North Carolina men’s basketball coach Hubert Davis agreed to a two-year contract extension after the 2024 season, tying him to the Tar Heels through the rest of the decade and giving him a significant bump in base pay.

The agreement was reached in July, but the deal was signed in December, according to a copy of the contract obtained by WRAL on Tuesday.

Davis, who played at North Carolina before a long NBA career and served as an assistant coach under Roy Williams, is in his fourth season as UNC’s head coach since suceeding Williams.

UNC reached the Final Four in his first season, highlighted by victories over Duke at the end of the regular season and in the national semifinal. The Tar Heels lost to Kansas in the national title game.

They opened the next season at No. 1 in the preseason poll, but failed to reach the NCAA Tournament after finishing 20-13 overall.

Last year, UNC won the ACC regular-season title and secured a No. 1 seed in the NCAA Tournament. UNC reached the Sweet 16 before losing to Alabama, good enough to earn Davis the extension.

This season, UNC is a bubble team and could miss the NCAA Tournament for the second time under Davis, who reached the Final Four in his first season. The Tar Heels were a top-10 team to open the season in the Associated Press poll.

UNC (18-11, 11-6 in the ACC) has won four consecutive games, including a victory at Florida State on Monday night. But UNC still lacks the signature victories over top-end teams likely needed to secure a spot in the NCAA Tournament. The Tar Heels has lost by double-digits on the road to the top three teams in the ACC: Duke, Clemson and Louisville. UNC is 1-10 in Quad 1 games.

The new agreement extends Davis through the 2029-30 season. His previous contract, signed in 2022, ran through the 2027-28 season and paid him $400,000 per season in base pay.

Under terms of the new deal, Davis will receive a base salary of $1.25 million per season. He will also receive $1.7 million in supplemental compensation this year. That figure rises by $100,000 each year of the contract.

If UNC were to fire Davis before the contract ends, it would owe him his base salary for each year remaining on the deal.

The deal also pays Davis $750,000 annually from Learfield, Nike and expenses. The overall compensation between base salary, supplemental pay and outside compensation for the six years is $24 million.

Davis can earn $1.25 million in basketball and academic performance bonuses. If UNC were to win a national title, for example, Davis would pocket $1 million in bonuses just from the NCAA Tournament.

Davis and UNC on Tuesday hired alum and NBA agent Jim Tanner to be the program’s executive director and general manager. Davis said earlier this month that UNC needed to expand its staff to help meet the challenges of the current landscape.

Source: wralsportsfan.com