"It's a dream, really, to be able to come home like this," said Bunting, who played collegiately for the Tar Heels (1968-71) and will address his players at a 3 p.m. team meeting. "Everything about it feels right."

SportsLine.com first reported late Saturday that Bunting was conditionally offered the job earlier in the day, with the deal contingent on finalizing key elements like salaries for the coaching staff and potential bonuses based on factors like graduation rate bowl appearances.

Agent Don Henderson told SportsLine.com that negotiations were completed over the weekend. "All it needs now is John's signature," Henderson said of what likely will be a five-year contract package that will pay Bunting $550,000-$600,000 annually.

Sources told SportsLine.com that Bunting has already contacted several current NFL assistants about the possibility of joining his staff. "The two big priorities now," Bunting said, "are staffing and recruiting. We want to hit the ground running on both fronts."

North Carolina fired coach Carl Torbush on Nov. 20 after three seasons and a 17-18 record.

Former NFL head coach Marty Schottenheimer, who interviewed twice last week with university officials, on Saturday withdrew from consideration. Schottenheimer had indicated an interest in the job as early as last year, when it appeared Torbush would be dismissed. Fox Sports reported Thursday night that Schottenheimer had accepted the job, but both he and North Carolina denied they had a deal.

The school offered the position to Virginia Tech coach Frank Beamer a week ago but, after he considered it for a few days, he opted to remain with the Hokies and agreed to a new contract. Athletic director Dick Baddour also interviewed Western Michigan coach Gary Darnell and Florida State offensive coordinator Mark Richt.

Bunting, 50, interviewed last week with Baddour and university chancellor James Moeser, and is said to have impressed both men. After playing linebacker at UNC, he moved on to the NFL, where Bunting played 11 seasons for the Philadelphia Eagles (1972-82). Bunting concluded his playing career with the Philadelphia Stars (1983-84) of the USFL.

At the college level, Bunting had stints at Brown (1986) and Rowan College (1987-1992). He was the head coach at Rowan the last five of those seasons. Bunting was an assistant with the Kansas City Chiefs (1993-96) and St. Louis Rams (1997-99) before joining the New Orleans staff this season.

With the Rams last year, Bunting was co-defensive coordinator, helping St. Louis to the Super Bowl championship. He is known as a fiery and emotional coach and some Rams players told SportsLine.com earlier this season they felt the club missed Bunting's passion.