Michigan has given Jim Harbaugh five more years.
Despite a month-long flirtation with the NFL, Harbaugh elected to return to Michigan after all and is now being rewarded with a five-year extension and a restructured contract, the team announced on Wednesday.
"I love Michigan Football, the University of Michigan and the Ann Arbor community," Harbaugh said in a release. "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. 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."
Harbaugh's five-year contract is worth $36.6 million, averaging $7.336 million per year. By comparison, Ryan Day is set to make $7.6 million in 2022. However, Harbaugh is also set to receive a $1 million annual contribution to his retirement fund, bringing the total compensation to $8.05 million for 2022.
Harbaugh contract $7.05 million base first year pic.twitter.com/aDmfzDLgtH
— angelique (@chengelis) February 17, 2022
The new contract brings Harbaugh back in line with his previous contract, under which he was paid $8 million in 2020. Michigan restructured his contract prior to the 2021 season, requiring him to take a massive pay cut; under the deal, he was paid just $4 million in base salary in 2021.
His new contract doesn’t necessarily prevent Harbaugh for pursuing another NFL job in the future, though, as the buyout starts at only $3 million and decreases by $750,000 each year.
Harbaugh contract buyout pic.twitter.com/t8QCWrgtwK
— angelique (@chengelis) February 17, 2022
Harbaugh returns to Ann Arbor after his most successful season yet at Michigan in which the Wolverines finished 12-2, won the Big Ten Championship, beat Ohio State for the first time since 2011 and earned the program's first-ever spot in the College Football Playoff.
In seven seasons with Michigan, Harbaugh has a 61-24 overall record, a 1-5 record against Ohio State, one Big Ten title and a 1-5 record in bowl games, missing out on a bowl bid entirely in 2020.
