North Carolina Tar Heels new head coach Bill Belichick speaks to those attending at Loudermilk Center for Excellence. Credit: Jim Dedmon-Imagn Images

Bill Belichick’s first few weeks as a college football head coach at the University of North Carolina have been relatively quiet. If anything, there’s been more news and speculation over what hasn’t been done instead of what has been done.

And that includes the signing of his official North Carolina contract.

Given Belichick’s buyout and the door that is seemingly still open to allow him one last shot at returning to the NFL, the speculation has been ever-present that the legendary coach might parachute back into the pros if given the opportunity. And the latest news about his North Carolina tenure will invite even more.

Via Jonathan Jones of CBS Sports comes news that the now former ManningCast star has not yet signed a full contract with UNC. And while that isn’t all that uncommon in college athletics, no other college football coach is also a six-time Super Bowl champion who is just 14 wins shy of the all-time NFL wins record and was interviewing for jobs last offseason.

But sources tell CBS Sports — and UNC confirmed this week — that there is no fully-executed and signed contract between Belichick and UNC. And industry sources say that could lead to a legal gray area about how much, if any, of a buyout there would be if Belichick left for the pros.

On Dec. 11, Belichick signed a term sheet proposal that laid out the basic and somewhat typical terms for a high-level college football coach. A day later at his introductory press conference, Belichick was asked about the fears people may have of him leaving UNC for the pros.

“I didn’t come here to leave,” Belichick said to applause from the North Carolina faithful in attendance.

The term sheet Belichick signed is known officially as the Proposal of Contract Terms and Conditions. It begins with a two-sentence paragraph that, as one NFL source with a legal background put, is “consequential” to the question of what will or won’t be legally enforceable.

While Bill Belichick has yet to comment on any of the speculation regarding his buyout or potentially returning to the NFL, his new general manager Mike Lombardi has been busy fending off various media reports. Lombardi called out NFL Network’s Tom Pelissero for a report about his old quarterback Tom Brady and the Las Vegas Raiders and then Mike Florio over how slowly Belichick is building his staff at North Carolina.

True to form, Lombardi also had a tweet about the CBS article from Jones.

Bill Belichick not signing a contract yet may not be a big deal inside Chapel Hill or for Mike Lombardi, but it will surely invite even more scrutiny than there already has been to this point so far. And it’s just the reality of the situation that nobody will probably believe in Belichick actually coaching college football until we see him on the UNC sidelines on August 30th for their season opener against TCU.