Technically the player piece is structured as a buyout but functions as a non compete since student athletes aren’t employees. These are common in agreements for contracted employees so they can’t be easily poached by the entities they were contracted to.

The reason contracts are so long is because parties find new ways to protect themselves. With the craziness of the transfer portal I suspect this language will become somewhat standard in the near future so outgoing coaches can’t easily gut their prior school’s roster.