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Larry Fedora Contract Details

New UNC football coach Larry Fedora's contract has been approved by the UNC BOT and BOG. ACC Now has the details. Here are the highlights.

--Fedora and UNC agreed on a 7-year deal. Five-year deals are usually standard for a new coach but Fedora received an extra two because UNC placed itself on two years of probation amid the NCAA investigation into impermissible benefits and academic fraud within the football program.

--Fedora’s base salary will be $350,000 per year. He’ll also receive an additional annual compensation of $1,350,000. That adds up to a total package of $1.7 million per year. That number does not include Fedora’s media and apparel contracts, which he’s expected to sign with outside sources.

--Fedora will receive a one-time payment of $400,000 on or before Jan. 31, 2012.

--He’ll also be given an annual expense allowance $30,000.

Like all coaching contracts there are various bonuses that can be earned for winning the ACC Coastal Division, going to a bowl game, etc, etc, etc.

I was a little struck by the total salary thinking maybe it would be higher. Then again Fedora is getting a million dollar raise over what he was making at Southern Miss with the added bonus of getting to live somewhere that is not Mississippi. However you slice it he is totally winning. N&O beat reporter Andrew Carter noted on Twitter that UNC went with a seven year deal as opposed to a standard five because UNC self-imposed two years probation over the NCAA violations.

One important takeaway from the salary is UNC has room to grant Fedora a contract extension and give him a significant raise without necessarily breaking the bank if he does well or gets interest from other schools . Another aspect is Fedora's salary level should leave a nice pool of money for hiring quality assistant coaches, especially on defense. As good as a head coach might be, a program gets made or broken by the work of his staff. Just ask Butch Davis.

The press conference to introduce Fedora is set to take place at 1 PM today. Inside Carolina has a full list of your viewing and listening options in case you want to hear what Fedora has to say.