Michigan made quite the financial commitment to Jim Harbaugh when they signed him as their new head coach. According to M Live, the university signed him to a seven-year contract which starts Harbuagh off at $5 millon annually. Additionally, Harbaugh received a $2 million signing bonus.
The deal is smaller than many expected and is not a jump from his 49ers contract. According to Pro Football Talk, Harbaugh made roughly $5 million a year with the 49ers. They estimate the Michigan contract to be $40.1 million in guaranteed money with a possible $9.275 million in incentives.
According to M Live, Harbaugh made it a point to not be the highest paid coach in the country or even in the Big Ten Conference. Currently, that honors goes to Michigan State’s Mark Dantonio who made a reported $5.636 million in 2014. A national championship victory would give Harbaugh a $500,000 bonus.
The Richest estimates Jim Harbaugh’s net worth at $15 million. This estimate was done before his contract with Michigan is signed, but likely will continue to rise.
The last time Michigan won the Big Ten conference was in 2004 when they were co-champions with Iowa. Michigan fans hope that Harbaugh can do what the last several coaches have been unable to accomplish. That is, to restore Michigan to its status as one of the elite college football programs in the country. Harbaugh’s track record speaks for itself. Whether it was at San Diego State, Stanford or the San Francisco 49ers, Harbaugh has built winning programs wherever he has gone. Ann Arbor hopes that streak continues.
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