Presently, there is not a fully executed and signed contract between Belichick and UNC, sources told CBS Sports — and the school confirmed — this week. Industry sources say that could create to a legal gray area about how much, if any, of a buyout would exist if Belichick left for the pros.

Taking an NFL job is "not an option" this offseason for new North Carolina football coach Bill Belichick, Tar Heels general manager Michael Lombardi said Thursday in attempting to quash rumors.

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