JUST NOW: NFL Owners Don’t Like Carolina Panthers’ $60 Million Deal for New Head Coach Matt Rhule — But Coaches Love It
The Carolina Panthers sent shockwaves through the NFL landscape when they inked former Baylor head coach Matt Rhule to a staggering 7-year, $60 million deal (potentially reaching $70 million with incentives) back in 2020. While the deal took place a few years ago, its aftershocks continue to ripple through league circles. The reaction among NFL owners and coaches remains sharply divided, with many owners grumbling about the financial precedent it set, while coaches around the league quietly (or not so quietly) celebrated the new benchmark in head coach compensation.
Owners Cry Foul Over the Price Tag
For many NFL owners, the Rhule deal marked an unwelcome shift in the business of hiring head coaches. Prior to this, most coaches—even the highest-paid ones—rarely saw contracts in the $60 million range unless they had proven NFL track records. Rhule, coming from the college ranks with no previous NFL head coaching experience, shattered that convention.
Multiple reports at the time indicated that rival owners were livid over Panthers owner David Tepper’s aggressive contract. The concern wasn’t just the amount of money, but the precedent it would set for future negotiations. When an unproven college coach secures a contract with such length and guaranteed money, it raises the price point for every future coaching hire.
Some owners were reportedly worried that agents of lesser-known or mid-tier coaching candidates would now feel empowered to ask for exorbitant sums. One league executive even stated, “It only takes one owner to wreck the market.” In this case, many believed Tepper did just that, disrupting the unofficial cap on what non-Super Bowl-winning coaches could command.
A New Era of Leverage for Coaches
On the other hand, coaches—both in the NFL and in college—welcomed the deal with open arms. Rhule’s contract gave head coaches everywhere more negotiating power. For years, coordinators and head coaches had argued that their compensation didn’t reflect the increasing expectations and pressure of their positions. Rhule’s deal became the crown jewel in the argument for higher pay.
NFL coaches began using the Rhule contract as a benchmark. If an NFL team wanted to lure a college coach away—or even convince a successful coordinator to take the top job—the $8 to $10 million per year range was now on the table, especially for marquee programs or struggling franchises looking for a quick turnaround.
Moreover, it showed that an NFL team was willing to give a coach time—seven years is an eternity in today’s “win-now” league. That kind of long-term security was nearly unheard of, and coaches around the league took notice.
Tepper’s Bold Bet
David Tepper, a hedge fund billionaire and one of the league’s wealthiest owners, defended the deal as a strategic investment. He saw Rhule as a culture-builder, someone capable of turning around a franchise in the same way he had rebuilt Temple and Baylor in college. Tepper was reportedly enamored with Rhule’s holistic approach to player development and team structure, calling him a “program architect” rather than just a coach.
While the results were mixed during Rhule’s tenure with the Panthers (11–27 over three seasons), Tepper’s approach signaled that he was willing to spend big in pursuit of long-term stability and success. The owner made clear that he didn’t want to be constrained by traditional NFL hiring norms, even