The University of North Carolina announced Tuesday that Steve Newmark, president of RFK Racing, will succeed Bubba Cunningham as athletic director in summer 2026, marking a planned transition as college athletics enters a new era of direct athlete compensation.
The announcement comes on the same day the $2.8 billion House antitrust settlement took effect, allowing schools to begin revenue sharing with athletes for the first time. Newmark will start as executive associate athletic director on August 15, focusing on "revenue-driving initiatives" for football and basketball programs before taking over the top role next year.
Cunningham, 63, will remain as athletic director through summer 2026 before moving to a senior advisor role to Chancellor Lee Roberts and Newmark12. As part of the succession plan, he received a two-year contract extension through July 202913.
"As part of my last contract extension, I committed to working with university leadership on a succession plan that would positively position Carolina Athletics and our 28 teams for the future," Cunningham said in a statement14.
During Cunningham's 14-year tenure, UNC won 24 national championships and finished in the top 10 of the Learfield Directors' Cup 11 times13. However, football struggled with five losing seasons, prompting the recent hiring of NFL legend Bill Belichick as head coach34.
Newmark, a Chapel Hill native, has led RFK Racing since December 2010 and helped create NASCAR's charter system12. Before motorsports, he worked as a partner at Charlotte-based Robinson Bradshaw & Hinson, specializing in sports law and representing the SEC, NCAA, and Conference USA12.
"RFK Racing extends its deepest gratitude to Steve Newmark for his remarkable leadership, vision, and steadfast dedication over the past 15 years," the racing organization said in a statement34.
Newmark served on the advisory committee that helped hire Belichick and is currently involved in selecting a new executive director for The Rams Club, UNC's fundraising arm12.
The leadership change reflects UNC's preparation for college athletics' evolving landscape, where schools can now directly pay athletes through revenue sharing12. Newmark's experience with sponsorships and contract negotiations positions him to navigate these changes31.
"With collegiate athletics undergoing massive changes at all levels, UNC is well positioned to take advantage of the new landscape," Newmark said31.
