College Athletic Departments Restructure Contracts to Assist in Revenue Sharing

Last Updated on March 22, 2025

The University of North Carolina athletic department shocked the sports world this past week by announcing six-time Super Bowl champion and former Patriots head coach Bill Belichick as its new head coach. The move comes with an unprecedented expansion of UNC’s football name, image, and likeness budget, reportedly increasing from $4 million to $20 million. This change directly addresses the challenges of recruiting through NIL, a key point highlighted by former coach Mack Brown in his exit press conference.

This enormous expansion of UNC’s football NIL budget is just one example of the investment programs are making to take their teams to the next level.

Belichick, known for his relentless focus on winning championships, has embraced this college role with clear goals. In his interview on The Pat McAfee Show, Belichick declared, “It’s not about wins to me. It’s about championships.

“The wins are great, and you’ve gotta win games to win championships, and I get that” Belichick noted. “To me, it’s about championships, and that’s what I’m most proud of.”

While Belichick’s reported $30 million contract over three years is among the highest in college football, UNC is leveraging his leadership to transition into a new era of NIL-driven recruiting and athlete support. Belichick hopes to lead the Tar Heels to their first National Championship under his leadership.

Dec 14, 2024; Chapel Hill, North Carolina, USA; North Carolina Tar Heels head football coach Bill Belichick is introduced during halftime at Dean E. Smith Center. Photo courtesy: Bob Donnan via Imagn

Florida State Seminoles head coach Mike Norvell has become a prominent figure in preparing for athlete revenue sharing, contributing $4.5 million of his $9.9 million salary to the university’s Vision of Excellence campaign. This initiative aims to elevate the college athlete experience, including enhancing revenue-sharing funds and upgrading facilities.

Norvell’s proactive approach reflects a broader trend among NCAA coaches as programs anticipate the July 1, 2025, implementation of a House settlement requiring Division I schools to allocate at least $20.5 million in revenue for college athletes.

“I wanted to be proactive in my financial assistance through this time of transition,” Norvell explained. “We have been hard at work to uphold the tradition here at Florida State, and I believe this step will help accelerate the process to where I know we are going.”

FSU Athletic Director Michael Alford commented on what the program needed from its program leader to move forward.

“FSU will continue to be a leader in the new structure of collegiate athletics, and that includes how we provide for our student-athletes,” Alford said. “It will take additional support. I’m not going to be shy about encouraging others to follow Coach Norvell’s actions and contribute however they can.”

Norvell is not the first coach to rethink his contract to support revenue sharing efforts. Mike Gundy, the head coach at Oklahoma State, has a $7.75 million annual salary that will be reduced and redistributed as part of revenue sharing for the Cowboys.

Oct 5, 2024; Tallahassee, Florida, USA; Florida State Seminoles head coach Mike Norvell during the second half against the Clemson Tigers at Doak S. Campbell Stadium. Photo courtesy: Melina Myers via Imagn

Dan Mullen was recently hired as UNLV’s head coach, signing a five-year, $3.5 million-per-year deal. Mullen’s deal doubles that of his predecessor, Barry Odom, who has since made his way to Purdue. Mullen’s contract makes him the highest-paid coach in program and Mountain West Conference history. To put into perspective the investment UNLV is making for their football program, Mullen will make more than the salaries of the University of Nevada Head Coach Jeff Choate, his 10 assistants, and his strength coach combined.

Implications for College Football

The upcoming revenue-sharing model is poised to reshape college athletics, emphasizing greater financial equity for college athletes. Coaches like Norvell and Gundy, who are restructuring their contracts, exemplify a growing recognition of the need for collective investment in the future of collegiate sports.

Universities, boosters, and athletic departments are increasingly exploring ways to adapt, whether through expanded NIL budgets, coach contributions, or fundraising campaigns. These efforts underscore the broader challenges in an evolving collegiate athletic landscape.

As schools prepare to share millions in revenue with college athletes, the actions of forward-thinking coaches signal a commitment to maintaining the competitive edge while supporting the individuals who make college sports possible. With leaders like Belichick, Norvell, and Gundy at the helm, programs are positioning themselves for success in the new era of college athletics.

Author

Hailey Rissinger
Hailey is a Sport Management graduate student at the University of Florida, specializing in Sport Law and seeking a certificate in Social Media. As a former Division I collegiate athlete, Hailey has a passion for helping athletes experience success on and off the field. Hailey is working toward a career in the NIL industry, helping athletes profit off of their Name, Image, and Likeness through developing their personal brand.
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