North Carolina's board of trustees approved a 7-year contract for new football coach Larry Fedora on Friday, the final step in hiring Fedora away from Southern Mississippi as the permanent replacement for Butch Davis.
Trustees met for about 30 minutes Friday morning to approve the deal, which will pay more than $1.7 million annually. The deal includes several bonuses, including for winning a division or conference championship, reaching a BCS bowl and high graduation rates.
The deal also includes annual retention bonuses ranging from $100,000 to $350,000 beginning in 2015, as well as a one-time payment of $400,000 in the first year and an annual expense allowance of $30,000.
''I think we got the absolute perfect fit for us at this time,'' athletic director Bubba Cunningham told trustees at the meeting.
The school has scheduled Fedora's first news conference for Friday afternoon.
The school offered a longer contract because it has put itself on two years of probation in the afte...