Bill Belichick getting new UNC boss in 2026 as questions persist about future
Cunningham will continue his current role until the summer of 2026, when he will then transition to senior advisor to the chancellor and athletic director, according to the university.
3 Bubba Cunningham has served as UNC's Athletic Director since 2011.
AP
'As part of my last contract extension, I committed to working with University leadership on a succession plan that would positively position Carolina Athletics and our 28 teams for the future,' Cunningham said. 'I appreciate the opportunity to extend my contract and enhance my role in a way that will allow me to continue to support our outstanding student-athletes, coaches and staff as we transition and navigate the changing athletics landscape. I am excited for the future.'
Cunningham has been UNC's director of athletics since 2011 and has led the Tar Heel programs to 24 national titles in his tenure.
He, along with an advisory committee, made the decision to hire the polarizing Belichick in December with hopes to revive the program which hasn't won a bowl game since 2019.
Belichick was reportedly not Cunningham's 'preferred target' in the coaching search, perhaps suggesting a disconnect between the two.
3 Bubba Cunningham brought abord Bill Belichick.
AP
The 73-year-old is under contract as head coach until 2029, though his buyout sits at just $1 million, paving a way for a potential UNC departure if things don't go according to plan after his first season — or if he were to be eyeing up any sort of NFL job that may arise.
With Cunningham's move to a new role, Steve Newmark, the president of Roush Fenway Keselowski (RFK) Racing, a NASCAR team, will take over.
RFK Racing is a part of the Fenway Sports Group, which owns the Boston Red Sox, Liverpool FC and the Pittsburgh Penguins.
Newmark has been hired as executive associate athletic director and 'will report to Cunningham and initially focus his attention on strategies tied to revenue-driving initiatives, particularly related to UNC's Football and Men's and Women's Basketball programs, before transitioning to the Director of Athletics role in the summer of 2026,' according to UNC.
3 Bill Belichick next to his girlfriend Jordon Hudson.
NHLI via Getty Images
Cunningham was involved in some controversy earlier this year when UNC's men's basketball team received an at-large bid to the NCAA Tournament over teams who were seemingly more deserving.
He was chairman of the tournament's selection committee and had a clause in his UNC contract for monetary bonuses if the team reached the tournament — prompting an investigation brought forth by one of the snubbed tournament teams, West Virginia, into collusion.
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Supplemental slides will be available prior to the start of the conference call. A replay of the call will be archived at Lowe's Companies, Inc. Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 100 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Disclosure Regarding Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believe", "expect", "anticipate", "plan", "desire", "project", "estimate", "intend", "will", "should", "could", "would", "may", "strategy", "potential", "opportunity", "outlook", "scenario", "guidance", and similar expressions are forward-looking statements. Forward-looking statements involve, among other things, expectations, projections, and assumptions about future financial and operating results, objectives (including objectives related to environmental and social matters), business outlook, priorities, sales growth, shareholder value, capital expenditures, cash flows, the housing market, the home improvement industry, demand for products and services including customer acceptance of new offerings and initiatives, macroeconomic conditions and consumer spending, share repurchases, and Lowe's strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic and operational plans and financial results. Such statements involve risks and uncertainties, and we can give no assurance that they will prove to be correct. Actual results may differ materially from those expressed or implied in such statements. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements including, but not limited to, changes in general economic conditions, such as volatility and/or lack of liquidity from time to time in U.S. and world financial markets and the consequent reduced availability and/or higher cost of borrowing to Lowe's and its customers, slower rates of growth in real disposable personal income that could affect the rate of growth in consumer spending, inflation and its impacts on discretionary spending and on our costs, shortages, and other disruptions in the labor supply, interest rate and currency fluctuations, home price appreciation or decreasing housing turnover, age of housing stock, the availability of consumer credit and of mortgage financing, trade policy changes or additional tariffs, outbreaks of pandemics, fluctuations in fuel and energy costs, inflation or deflation of commodity prices, natural disasters, geopolitical or armed conflicts, acts of both domestic and international terrorism, and other factors that can negatively affect our customers. Investors and others should carefully consider the foregoing factors and other uncertainties, risks and potential events including, but not limited to, those described in "Item 1A - Risk Factors" in our most recent Annual Report on Form 10-K and as may be updated from time to time in Item 1A in our quarterly reports on Form 10-Q or other subsequent filings with the SEC. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law. 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Net earnings allocable to common shares used in the basic and diluted earnings per share calculation were 2,391 million for the three months ended August 1, 2025, and 2,377 million for the three months ended August 2, 2024. Net earnings allocable to common shares used in the basic and diluted earnings per share calculation were 4,027 million for the six months ended August 1, 2025, and 4,127 million for the six months ended August 2, 2024. 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This measure excludes the impact of certain items, further described below, not contemplated in Lowe's Business Outlook to assist analysts and investors in understanding operational performance for the second quarter of fiscal 2025. Fiscal 2025 ImpactsDuring fiscal 2025, the Company recognized financial impacts from the following: In the second quarter of fiscal 2025, the Company recognized pre-tax expenses of $43 million, including transaction costs and purchase accounting adjustments, related to the acquisition of Artisan Design Group (Artisan Design Group acquisition). Fiscal 2024 Impacts:During fiscal 2024, the Company recognized financial impacts from the following: In the second quarter of fiscal 2024, the Company recognized pre-tax income of $43 million consisting of a realized gain on the contingent consideration associated with the fiscal 2022 sale of the Canadian retail business (Canadian retail business transaction). Adjusted diluted earnings per share should not be considered an alternative to, or more meaningful indicator of, the Company's diluted earnings per share as prepared in accordance with GAAP. The Company's methods of determining non-GAAP financial measures may differ from the method used by other companies and may not be comparable. A reconciliation between the Company's GAAP and non-GAAP financial results is shown below and available on the Company's website at Months EndedAugust 1, 2025August 2, 2024 Adjusted Diluted Earnings Per Share Pre-Tax Earnings Tax 1 Net EarningsPre-Tax Earnings Tax 1 Net Earnings Diluted Earnings Per Share, As Reported $ 4.27$ 4.17 Artisan Design Group acquisition 0.08 (0.02) 0.06— — — Canadian retail business transaction — — —(0.07) — (0.07) Adjusted Diluted Earnings Per Share $ 4.33$ 4.10 1 Represents the corresponding tax benefit or expense specifically related to the item excluded from adjusted diluted earnings per share. 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