Arguably the biggest sports story of December — North Carolina hiring Bill Belichick to coach its football team — could have big ripple effects in college basketball, specifically with one of the most historic programs in America. 

UNC will pay Belichick $10 million (not including bonuses, keep in mind) and, according to the term sheet Belichick signed, the school is affording an additional $15 million more for assistant coaches and support staff.

That’s more than $25 million committed to UNC football before you get to the huge influx of expected revenue sharing going to the program’s players starting in 2025. That figure, according to Belichick’s publicly disclosed contract, is earmarked for $13 million, which is $7 million shy of the $20 million total being floated for UNC football’s overall NIL goal.

“There is a lot of concern of what that looks like,” a UNC source told...