Michigan HC Jim Harbaugh’s new contract details revealed

On Wednesday, news broke that Jim Harbaugh had agreed to a new contract with Michigan that goes through the 2026 season.

Just moments ago, Austin Meek revealed the details of Harbaugh’s new contract.

-Harbaugh will earn a $655,000 base salary with $6,395,000 in incentives plus $1,000,000 contribution to his retirement fund. This is a total of $8,050,000 for Year 1 of the new contract. He could also earn $500,000 for winning the Big Ten East, $1 million for a Big Ten Title, $1 million for a National Championship, and $500,000 for a CFP bid. If all of those things happen his Year 1 earnings would be $11,050,000. Harbaugh can also net a $50,000 bonus if he’s voted Big Ten Coach of the Year and another $75,000 if he’s named Coach of the Year by a national media outlet.

-If Harbaugh leaves after the 2022 season, he would owe Michigan a $3 million buyout. The buyout drops to $2.25 million, $1.5 million, $750,000 and then zero.

-A quick scan of the incentives: $1 million for a Big Ten title, $1 million for a national championship, $500,000 for a CFP bid. Very similar to his previous deal.

-Michigan is also making a $1 million annual contribution to a 403(b) retirement fund.

Here is Harbaugh’s new contract via Angelique Chengelis of The Detroit News.

Have you subscribed to our YouTube Channel yet? Subscribe and hit that notification bell to stay up to date on all the latest Detroit sports news, rumors, interviews, live streams, and more!
MUST READ:
Michigan baseball gets BLOWN OUT by Louisville