UPDATE:
It is now official. Jim Harbaugh has signed a five-year deal with Michigan, which will keep him as the Wolverines’ head coach through the 2025 season.
Can confirm reports, via a source, that Jim Harbaugh has now signed his deal with Michigan, a five-year pact.
— Nick Baumgardner (@nickbaumgardner) January 8, 2021
ORIGINAL REPORT:
According to a report from Nick Baumgardner of The Athletic, Michigan and Jim Harbaugh are close to finalizing a five-year deal. The deal is expected to be worth a $4 million base salary per season with incentives that could potentially get Harbaugh up to $8 million.
Baumgardner added that the buyout is expected to be low.
Harbaugh has not yet signed the deal but he is expected to do so soon.
Source tells The Athletic Michigan and Jim Harbaugh are close to finalizing a five-year deal — expected base salary is $4 million. With incentives, he could get it back to $8 million. Buyout is expected to be low.
Harbaugh hasn't signed. Is expected to soon.
— Nick Baumgardner (@nickbaumgardner) January 8, 2021