University of North Carolina to Cover Double Salaries for Two Athletic Directors During Transition Period
UNC Announces Athletic Director Changes and Compensation Details
The University of North Carolina (UNC) has announced significant changes in its athletic leadership, with current Athletic Director Bubba Cunningham stepping aside and Steve Newmark, former RFK Racing president, taking over the role next summer.
Cunningham, who was hired as UNC's top athletics official in 2011, has signed a contract extension and will receive $903,000 annually for the next two years. During this period, he will serve as "senior advisor" during the first year of the transition.
In the transition year, Cunningham will earn substantially more than his successor, with a base salary of $540,000 plus a discretionary bonus equal to half his pay. From July 2027 through June 2029, he will continue to earn $540,000 in base salary plus the same discretionary bonus.
Newmark, on the other hand, will earn $600,000 in the upcoming academic year and his base salary will rise to $1 million annually from next summer through June 2029.
Both Cunningham and Newmark will be eligible for performance bonuses, which could add hundreds of thousands of dollars to their compensation. These bonuses include five-figure payouts if Tar Heels men's or women's basketball teams secure NCAA Tournament bids, and payouts if UNC football, now coached by Bill Belichick, reaches a bowl game.
Cunningham is one of a number of high-profile athletic directors who have chosen to step aside amid the rapidly changing rules regarding college athlete compensation and governance. Others who have stepped aside in the last two years include Ohio State's Gene Smith, Notre Dame's Jack Swarbrick, and Oklahoma's Joe Castiglione.
It's worth noting that Cunningham's compensation may be paid outside of the athletic department's budget, and he will report directly to the university's chancellor, not to Steve Newmark.
In addition to his role as athletic director, Newmark will earn less in base pay than Steve Belichick and Mike Lombardi at UNC. Cunningham's new role will focus on development and fundraising, advising on NIL issues, representing UNC in conversations with Congress and other government officials, and teaching a course for undergraduate or MBA students.
Bubba Cunningham is eligible for eight "longevity incentive compensation awards" of $110,409 each, totaling $883,272, between now and June 2027. In 2026 alone, these incentives could provide him nearly half a million dollars on top of his base pay. From July 2027 through June 2029, he could earn an additional $883,272 in these incentives.
The person who, between July 2027 and June 2029, after taking on their new role, receives a base salary of $540,000 per year plus a bonus equal to half of their salary is not specified in the provided information.
These changes in UNC's athletic leadership and compensation structure mark a significant shift in the university's approach to sports management. The University of North Carolina has released employment agreements for its top athletic officials, providing a clearer picture of the financial aspects of these changes.
