North Carolina men’s basketball general manager Jim Tanner has already earned a raise.
Tanner, a longtime NBA agent who was hired in February to be the program’s first general manager, signed a five-year deal through June 30, 2030 that pays $850,000 annually. But, according to a June 12 letter extending an offer of employment, Tanner already hit an incentive to raise his pay to $950,000 as of July 1.
Tanner is due a $100,000 raise if “1) UNC gains entry to the NCAA Mens’ Basketball Tournament; or 2) the UNC Mens’ Basketball Program receives a signed commitment of no less than one athlete with a four or five star ranking” during the preceding contract year, according to the letter.
It goes on: “The University acknowledges that as of the date of this Letter of Appointment, you have already satisfied condition (2) above for the 2025-26 contract year, and therefore that your annualized base salary will be raised to $950,000 effective July 1, 2025.”
North Carolina added seven transfers and three freshmen for next season. Five of them were four- or five-star recruits out of high school.
The Tar Heels, one of the most storied programs in NCAA basketball, was the final at-large selection in 2025. UNC won its First Four game, but lost in the first round. The Tar Heels are regulars in the event, having reached it all but three times since 2004.
Tanner can also earn other performance incentives based on NCAA Tournament success.
The letter states that the school and Tanner “agree to reopen the agreement for further good faith consideration” after the 2027-28 season.
Tanner graduated from UNC in 1990. He represented 40 first-round picks as an agent and 17 former UNC players, including Vince Carter. Both of his children attended UNC.
“It’s a position that the program wanted, and I felt like we needed,” UNC coach Hubert Davis said after the hire.
Michael Lombardi, the general manager for the school’s football program, earns $1.5 million.