The UNC Board of Trustees met Friday morning and approved Larry Fedora as North Carolina’s next head football coach.
Fedora, who agreed to a contract that will pay him $1.7 million per year, was introduced at a press conference at the Loudermilk Center on Friday afternoon.
“Larry Fedora is going to be a great fit for Carolina,” Chancellor Holden Thorp said. “When I met with him, it was clear that he understands that we’re committed to being both competitive in football and building a program that exemplifies Carolina’s values.”
Fedora’s contract, which goes through January 15, 2019, also lists the possibility for bonuses, which he could collect if UNC appears in a bowl game, wins the ACC Coastal Division, wins the ACC championship, competes for a BCS national championship or if the team’s Academic Progress Rate is 960 or higher.
If Fedora is still the coach at UNC on January 15, 2015, he will receive a retention bonus of $100,000. This bonus increases to $200,000 if he remains on staff on January 15 of the following year, and increases by $50,000 for each subsequent year until the contract expires in 2019.