Michigan head coach Jim Harbaugh will make $7.05 million in the first year of his reworked five-year contract, multiple outlets reported Thursday.
Harbaugh, 58, stands to earn $7.6 million in the final year of the deal, per the outlets, citing copies of the contract obtained through a records request with the school.
The new deal makes Harbaugh the second-highest paid coach in the Big Ten behind Michigan State’s Mel Tucker.
Harbaugh would owe Michigan a $3 million buyout if he leaves after the first year. The buyout drops $750,000 per year after that.
Harbaugh had a base salary that was slashed to $4 million in 2021 after a 2-4 finish in 2020. However, he earned much more after hitting performance incentives. Those incentives are part of the new deal, including $1 million for winning the national championship and $500,000 for reaching the national semifinals again, among others.
The new deal essentially restores Harbaugh to where he was prior to the 2020 season.
Harbaugh returned to Ann Arbor somewhat unexpectedly after interviewing for and being linked to the Minnesota Vikings head coaching vacancy. After not getting the job, Harbaugh said he’s done chasing NFL jobs, telling a Detroit newspaper that “this is the last time.”
Harbaugh guided the Wolverines to the Big Ten championship and College Football Playoff in 2021. They lost to eventual champion Georgia in the semifinals. Harbaugh was named the 2021 Associated Press Coach of the Year.
He owns a 61-24 record during his seven seasons at Michigan, his alma mater.
–Field Level Media