North Carolina and coach Roy Williams have agreed in principle on a two-year contract extension, the school announced on Friday.
Under the terms of the extension, Williams will earn $408,169 in base compensation next year and $595,409 in 2019-20. He will also receive $1,550,000 in deferred compensation next year and $1,750,000 in 2019-20.
In addition, the deal includes a $40,000 expense account and bonuses for NCAA tournament benchmarks and Academic Progress Rate. Williams also has separate contracts for apparel and media obligations.
“I’ve said I want to coach another six to 10 years, so this contract takes me right to the edge of that, which is good,” Williams said in a news release. “I appreciate the confidence Chancellor Folt and Bubba Cunningham have in my leadership of the basketball program. They’ve demonstrated that with this contract extension, and with their support over the past several years, which have been a challenge for all who love Carolina as I do. I thank them on behalf of our basketball program and me personally.”
News of the extension comes less than a month after North Carolina released the NCAA's Notice of Allegations stemming from an investigation of academic irregularities at the school. The school was charged with five Level I allegations, which are classified as severe breaches of conduct.
Williams was mentioned only once in the notice.
Over 12 seasons at North Carolina, Williams has led the Tar Heels to a 750-202 record, six ACC regular-season titles and two national championships.
“Carolina is fortunate to have an outstanding team of head coaches,” UNC athletics director Cunningham said in the release. “We are certainly pleased to extend Coach Williams’ contract for two years beyond what was already in place and secure longer term commitments with several of our Olympic sport coaches that go beyond the standard one-year appointments.”