The former NBA head coach agreed to an expansive six-year deal with the Tar Heels
By Brad Crawford Apr 8, 2026 at 11:34 am ET • 3 min read 
Getty Images UNC is making Michael Malone the second highest-paid in college basketball after both sides agreed to a six-year, $50 million contract this week, with an $8.3 million annual compensation trailing only Bill Self at Kansas ($8.8 million, reportedly).
According to Malone's contract obtained by CBS Sports, he's eligible for an annual total performance bonus of nearly $1.5 million, which includes escalators for earning National Coach of the Year, winning the ACC's regular season and tournament championships along with specific NCAA Tournament goals beyond the first weekend.
Other benefits for Malone include a car allowance, a $100,000 expense allowance for "Country Club membership, entertainment, and other appopriate purposes to advance the program" and 20 hours of private air travel annually.
UNC promised to go "outside the family" with this hire and proved a point with Malone, who wasn't initially listed as a candidate on any of the Tar Heels' reported lists of potential targets.
"Carolina is one of the most historic programs in college basketball, and I am honored to be the head coach of the Tar Heels," Malone said Tuesday in a release. "It is humbling to follow so many legends in Chapel Hill. I know from the many Tar Heels in the NBA how special the Carolina Basketball Family is, and I will do everything I can to continue UNC's championship legacy while preparing our players for professional careers and life after basketball.
"I offer my thanks to Chancellor (Lee H.) Roberts, Steve (Newmark) and Bubba (Cunningham), the Board of Trustees and the search committee. I am proud to be a Tar Heel and can't wait to get started."
College basketball's highest-paid coaches
- Bill Self, Kansas ($8.8 million annual average)
- Michael Malone, UNC ($8.3 million)
- John Calipari, Arkansas ($8 million)
- Dan Hurley, UConn ($7.8 million)
- Nate Oats, Alabama ($7.8 million, estimated)
- Tom Izzo, Michigan State ($6.2 million)
- Mick Cronin, UCLA ($6.1 million)
The university has committed to "no less than $6.75 million in revenue share" for roster-building purposes and is allowing for an assistant salary pool of up to $4 million for Malone's coaching staff and support members.
Malone's buyout is 80% of his total remaining contract at any point of his coaching tenure in Chapel Hill. Should he leave for an NBA opening or another job in college basketball, Malone will owe the university $8 million prior to April 1, 2027 with the number decreasing by $1.5 million annually thereafter.
Malone's coaching resume includes a 510–394 career NBA record in the regular season, highlighted by a 44–36 mark in the playoffs and a 2023 championship. Malone helped developed former second-round pick Nikola Jokic into a multi-time league MVP.
"I'm happy for coach. I wish him all the luck," Jokic said of Malone's hire, via Vinny Benedetto of the The Denver Gazette. "I think it's a little bit different just because he was coaching NBA for, how many years, 12, 15 years? He definitely has the poise and the brain to do it. I think he's going to do a really good job, because I think he can actually coach the guys. I think he's going to have time to coach the guys and teach them how to play the game the right way."
Malone hasn't coached at the college basketball level since 2001 when he was an assistant at Manhattan. It's a calculated — and costly risk — on behalf of the Tar Heels, who paid their previous coach, Hubert Davis, just under $4 million this season.
According to a report by USA Today, UNC is on the hook for four years remaining on Davis' contract with $5.1million guaranteed.
Full list of contract bonuses for Malone at UNC:
ACC Coach of the Year - $50,000
National Coach of the Year (Naismith, NABC, AP) - $100,000
APR ≥ 975 - $75,000
ACC Regular Season Champion - $100,000
ACC Tournament Champion - $100,000
NCAA Sweet 16 Participation - $150,000
NCAA Elite 8 Participation - $200,000
NCAA Final 4 Participation - $200,000
NCAA Tournament Championship - $500,000
Total Performance Bonus Eligibility - $1,475,000
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