Hubert Davis receives final approval of coaching contract; UNC board ‘excited’

The Board of Governors approved new North Carolina men’s basketball coach Hubert Davis’ contract on Thursday, nearly four months after Davis took over for Roy Williams.

Davis, who was an assistant coach for the Tar Heels, signed a five-year deal with a base salary for $400,000 per year. The contract runs through June 30, 2026. The News & Observer previously reported details of the contract in mid-April. The document was signed by Davis and other UNC officials in late April.

Davis, who was recruiting at Nike’s Peach Jam tournament in North Augusta, S.C., shrugged off the delay in the BOG’s final approval telling the N&O, “Carolina has always taken good care of me.”

The 24-member Board of Governors had a regularly scheduled meeting in May but didn’t approve Davis’ contract until Thursday at its regular July meeting. The group did not meet for a regular meeting in June. Thursday’s meetings took place via video conference and live stream and in Chapel Hill, according to the agenda.

Board of Trustees Chairman Dave Boliek said that Davis knew when he signed the contract the paperwork would take months complete.

“There hasn’t been any abnormal hold up on his contract,” Boliek said. “Certainly not from a board of trustees point of view.”

Boliek said Davis will be paid retroactively for the months since he signed the contract.

“We’re excited about Coach Davis,” Boliek said. “Our whole board is excited about Coach Davis.”

The deal includes performance bonuses for winning the regular-season and conference tournament titles, as well as for participation in the NCAA Tournament. The NCAA Tournament bonuses grow for each victory, culminating in a $250,000 bonus for winning the national title. There are other bonuses for coach of the year awards and academic success by the team.

Davis’ bonuses are capped at $1.075 million per year.

Davis will receive $600,000 in supplemental income through June 2022 with that amount growing by $100,000 each year of the contract. He also receives $50,000 for expenses in “to advance the Program.”

He will also receive $500,000 per year from Learfield Communications and $250,000 from Nike, which both have contracts with the university’s athletic department. His total compensation before any incentives kick in of $1.8 million is among the lowest in the ACC according to the USA Today coaches database. Davis is the only head coach in the league without prior head coaching experience, although Duke’s Jon Scheyer will join him next season when he takes over for Mike Krzyzewski.

Davis signed his contract in late April. The former Tar Heel and NBA player was elevated to head coach at his alma mater on April 5.

Davis described his transition to head coach as a whirlwind and said things may finally slow down for him after this week when the recruiting live period ends.

He has made good use of his time filling some of the immediate holes in the Tar Heels’ roster for next season. He used the transfer portal to bulk up the frontcourt with the addition Oklahoma forward Brady Manek; Virginia forward Justin McKoy, who played at Panther Creek High School; and Marquette center/forward Dawson Garcia. Davis also has made a bit of a splash on the recruiting trail getting his first five-star commitment from Jalen Washington out of Gary, Indiana.