Jim Harbaugh: Inside His New Contract and Buyouts If He Leaves
Michigan Wolverines head coach Jim Harbaugh has signed a contract extension to stay the head coach until the year 2026. Now, the details of the contract are out. Read on…
INDIANAPOLIS, INDIANA – DECEMBER 04: Head coach Jim Harbaugh of the Michigan Wolverines walks on the field after winning the Big Ten Football Championship game against the the Iowa Hawkeyes at Lucas Oil Stadium on December 04, 2021 in Indianapolis, Indiana. (Photo by Justin Casterline/Getty Images)
Michigan Wolverines head coach Jim Harbaugh has signed a contract extension to stay the head coach until the year 2026.
Now, the details of the contract are out. Read on for the skinny!
Jim Harbaugh's statement
“I love Michigan Football, the University of Michigan and the Ann Arbor community. My family and I are excited to continue leading this football program, and we are thankful for the support that our athletic department and university administration have demonstrated toward the team," Harbaugh said in a statement. “I appreciate all that our players, coaches and staff are doing to excel on and off the football field. My enthusiasm for tomorrow, the day after and every day following is as high as ever, and we are ready to get on the practice field and start preparations for the 2022 season. Go Blue!”
Penalties if he leaves next year...
If Harbaugh jets after the 2022 season, he will owe the University a $3 million buyout.
Penalties if he leaves after that...
If Harbaugh leaves in subsequent years, the buyout goes down to $2.25 million, $1.5 million, $750,000 and zero.
Some thing it's a low enough buyout to keep the NFL calling
The scoop on the contract
It's a five-year, $36.7 million contract with the Wolverines. His annual compensation begins at $7.05 million in 2022 and goes up to $7.63 million in 2026.
It's much more than he was making
It's more than a $3 million increase from the coach's 2021 base salary.
He's on top of the pay scale again
The new contacts makes Harbaugh one of the highest-paid coaches in college football.
More incentives
A national title or Big Ten championship will give Harbaugh $1 million.
More incentives
Getting into the national semifinal and a Big Ten East title will score him $500,000 each.
More incentives
A New Year's Six appearance, not getting a division title, will score him $200,000.
More incentives
Harbaugh will also get $50,000 if he is named Big Ten Coach of the Year and an additional $75,000 if he is crowned one of the national coach of the year by one of the major voting organizations.
Reasoning for the big bucks
Obviously, the big bucks are thanks to a good season for Michigan in the 2021-22 year. Harbaugh led the Wolverines to its first Big Ten championship since 2004 and the College Football Playoff, where they lost 34-11 to Georgia.
What do you think?
Do you think Harbaugh is worth the big bucks? Hit me up and let me know your thoughts!
