Earlier this week a report suggested Michigan Wolverines head coach Jim Harbaugh was looking for a new job.
The report indicated Harbaugh was pursuing NFL head coaching jobs. In recent weeks, he and the Wolverines have reportedly been working on a new contract, but Harbaugh was waiting to sign until he heard from the NFL.
Well, it seems Harbaugh has been told “no” by the NFL. According to a new report from Michigan insider Nick Baumgardner, Harbaugh and the Wolverines are “close” to a new deal.
“Source tells The Athletic Michigan and Jim Harbaugh are close to finalizing a five-year deal — expected base salary is $4 million,” he reported. “With incentives, he could get it back to $8 million. Buyout is expected to be low.”
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
If the numbers are true, that’s a massive pay-cut for Harbaugh, who has been one of the highest-paid coaches in college football since he came back to his alma mater.
Harbaugh reportedly showed interest in leaving for the NFL. However, if he and Michigan are close to a new deal – one that cuts his salary nearly in half – NFL teams must not have been interested in him.
Harbaugh showed he could coach in the NFL when he led the San Francisco 49ers to the Super Bowl. However, he hasn’t been able to replicate that success with the Wolverines.
Harbaugh owns a 49-22 career record as the team’s head coach. Unfortunately, none of those wins have come against rival Ohio State.
Now it looks like he’ll be back at Michigan for at least a few more years. Perhaps he can finally take down the Buckeyes.