Davis told the media last week that he wasn't interested in the job and that he plans on staying at UNC. But there are conditions that Carolina must meet to ensure Davis' tenure in Chapel Hill is a long one.
According to a source close to Davis and UNC, the coach wants a more lucrative contract and guaranteed dates for the starts and completions of each phase in Kenan Stadium's renovation.
The board of trustees last spring approved a lease for the first phase of the project, which will cost approximately $50 million. It calls for adding two floors to the Kenan Football Center, which currently sits in the enclosed end zone. One floor will comprise new office space while the top floor will house approximately 20 luxury suites.
That phase is scheduled to begin at the conclusion of this season with an expected completion prior to the start of next season.
A second phase includes bowling in the open end zone — which will add approximately 8,800 seats — and construction of an athletic education support center. That phase, however, has not been approved by the board. The final renovation phase includes a new press box and additional luxury suites.
Davis' original contract paid him $1.86 million annually and included a $25,000 annual expense account plus a supplemental package from the Educational Foundation that would pay him $1.3 million in 2013 if he stays at UNC. The contract also calls for annual raises of $29,000 to the base salary, $5,000 in expenses, and an additional $100,000 put into the supplemental trust.
Last November, Davis received a $291,000 pay raise, increasing his total compensation for 2008 to nearly $2.2 million.
The No. 17 Tar Heels are 7-2 overall, 3-2 in the ACC and are regarded by some observers as the best team in the ACC in Davis' second year at the helm.
Davis isn't the only coach Tennessee is interested in. Others include Texas Tech coach Mike Leach, who may be higher on the list than Davis.
Andrew Jones covers the ACC and can be reached at AJones@BusterSports.com.