North Carolina basketball coach Roy Williams' contract has been extended through 2028, the school announced on Wednesday. The university has also signed a new contract with Nike for 10 years.
Williams' annual salary from July 1, 2018, to June 30, 2019, will be $541,778. During that same time, he will be paid a supplemental compensation of $1.7 million.
In the years to come, that salary will increase incrementally.
By July 1, 2027, his annual salary will be $800,000 a year with supplemental pay of $2.15 million.
"I'm grateful and humbled in the University's continued faith in my leadership of the basketball program," Williams said in a statement released by the school. "When I coached at Kansas my contracts with Nike and our media partner were private, and UNC respected and honored that for 15 years. However, times have changed and understanding the environment that college basketball faces now, Chancellor Folt, Bubba (Cunningham) and I agreed the correct and proper thing would be to disclose those terms."
Williams has won three NCAA titles at UNC in 2005, 2009 and 2017. In 16 seasons as UNC's head coach, he is 432-128, the university said.
Carolina's 10-year contract extension with Nike means the apparel company will continue to be the school's exclusive supplier of athletic gear through 2028. As part of the contract, a minimum of $600,000 a year, is guaranteed for licensing, the school said in a press release. The school will also receive $200,000 per year in retail product for non-athletic department use.
The new Nike contract for Williams will run through June 30, 2028, with semi-annual payments on Sept. 1 and March 1 of each year. Williams will be paid $250,000 by Nike this season, with a $10,000 increase each year through the 2027-28 season.
UNC extended its multimedia rights partnership with Learfield through 2029. Learfield has managed UNC's radio broadcast, coaches' shows, venue signage and digital media productions since 1999. The contract, set for 12 years, has an average guaranteed value of $12.6 million per year.
The school will also receive performance bonus payments. The football team would earn an additional $20,000 for appearing in the ACC Football Championship; $50,000 for participation in the College Football Championship; $75,000 if they won championship.
Men's basketball would get an additional $20,000 for winning the ACC tournament title; $20,000 for an appearance in the Sweet 16; $50,000 for a trip to the Final Four; $100,000 for winning the NCAA title. If an Olympic sport wins a title it would earn an additional $10,000. UNC would also earn $25,000 for a top five finish in the Director's Cup and $15,000 for a top 10 finish.
