Salary, bonuses and buyout: Details of Jim Harbaugh's contract extension at Michigan revealed
Jim Harbaugh will be sticking around Ann Arbor a little bit longer. The Michigan head coach, who just wrapped up his sixth year with the program, agreed to a four-year extension with the Wolverines that will keep him as the leader of the program through the 2025 season.
Shortly after the University of Michigan’s athletics department announced the agreement, details of Harbaugh’s contract extension were reported. Orion Sang of the Detroit Free Press had the specifics on what Harbaugh’s new deal looks like moving forward.
Harbaugh, who has regularly been at the top of the coaching salary pool for a lucrative deal he signed with the program years ago, will have a total compensation of $4 million for the upcoming 2021 season. That’s around half of what he was previously earning.
That total increases by $100,000 each of the following four years on the extension. The 2021 season is part of the previous contract.
The terms of Jim Harbaugh's new deal pic.twitter.com/mUFDJIunzC
— Orion Sang (@orion_sang) January 8, 2021
The buyout totals will catch some serious attention, as the numbers are much lower than under Harbaugh’s previous contract. If Michigan terminates Harbaugh following the 2021 season, the school will owe him just $4 million. That total drops by $1 million each of the following four seasons.
If Harbaugh leaves Michigan before the four-year extension is up, he will owe Michigan $2 million after the 2021 season, and the total will decrease by $500,000 each year afterward.
Also included in the contract are bonus incentives for Harbaugh. He’ll see a $50,000 bonus if he’s named the B1G Coach of the Year and $75,000 if he’s the National Coach of the Year.
If Michigan wins the B1G East outright, it’ll net Harbaugh an additional $500,000 and if the Wolverines claims the conference title, he’ll get $1 million in bonus money. Harbaugh will also receive $200,000 for a New Year’s Six bowl berth, $500,000 to reach the College Football Playoff and $1 million for a national title.
Harbaugh is 49-22 in six seasons at Michigan, leading the Wolverines to five bowl game appearances and three 10-win seasons. In 2020, UM finished the year with a 2-4 record, the only losing season the team has endured under Harbaugh’s guidance.