CHAPEL HILL, N.C. (AP) -- North Carolina's board of trustees has approved a 7-year contract for new football coach Larry Fedora.
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.
The school has scheduled Fedora's first news conference for Friday afternoon.
Fedora had spent four seasons at Southern Mississippi, leading the No. 22 Golden Eagles to the Conference USA championship.
Fedora is the permanent replacement for Butch Davis, who was fired shortly before the season after an NCAA investigation into improper benefits and academic misconduct in the program.