Terms of new Jim Harbaugh Michigan contract revealed
Jim Harbaugh’s new contract with the Michigan Wolverines contains some significant adjustments to his salary and incentives.
According to Scott Roussel of FootballScoop, Harbaugh will be guaranteed $4 million annually. Bonuses could add an extra $3.475 million to that sum. It’s a significant drop in his base salary, and moves him from first to eighth among Big Ten coaches.
Harbaugh made $8 million last year.
Harbaugh’s buyout is significantly lower as well. It starts at $2 million, and drops by $500,000 annually. Harbaugh would be owed $4 million by the school if he is fired after 2021, and that number will drop by $1 million each year thereafter.
The lower sum is at least partially an acknowledgement that Harbaugh has not been as successful at Michigan as the school has hoped. Now Michigan has to acknowledge the fact that their rivals are pretty happy that Harbaugh will be sticking around.