Jim Harbaugh won’t be making as much in his new contract.
Despite a disappointing 2020 season and the feeling that the program has underachieved of late, Michigan decided that head coach Jim Harbaugh is the right man to get Michigan back to their status as a blue-blood, rewarding him as such with a four-year contract. Unfortunately for Harbaugh, he’ll have to coach at a heavily discounted price when compared to the lofty deal he signed after leaving the San Francisco 49ers.
Per The Athletic, Harbaugh’s contract will have a base salary of around $4 million, which is much more economical than his old deal.
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
Jim Harbaugh has shown enough progress to earn a new contract extension
Harbaugh, a former Michigan quarterback, has helped pull the program out of the Rich Rodriguez and Brady Hoke doldrums, as he has gone 49-22 during his time at Michigan. However, most of the criticism of Harbaugh has been directed at his inability to return the Wolverines to national prominence. Harbaugh has yet to beat Ohio State, and he is just 3-3 against Michigan State, all the while coming up short time and time again against high-ranked teams.
While Michigan clearly values his ability to recruit and make the Wolverines competitive, his new contract shows that he was not performing like one of the highest-paid coaches in football. Michigan expected Big Ten titles out of him, and he has yet to make good on that promise.
Harbaugh might have a new deal, but there is no guarantee that he will see the end of that deal. Over the next few years, Harbaugh needs to prove he can go toe-to-toe with the best teams in the country.