With the Michigan Wolverines officially naming Jim Harbaugh their new head coach, numbers are slowly trickling out about his contract.
Harbaugh, according to Chris Balas, will be receiving a seven year deal worth close to previously mentioned eight-million dollars per year. With incentives, it could go up to eight million, but obviously Harbaugh will have to meet requirements in order to receive full salary.
NFL reporters are still saying that select teams such as the Raiders, Bears and others are still trying to woo Harbaugh to coach for their teams, but the deal with Michigan is said to be done.
John U. Bacon has reported that interim athletic director, Jim Hackett, announced the numbers to Harbaugh’s contract.
He will be receiving $5 million annually, and have the same basic contract as he did in San Fransisco.
It will also involve some incentives to go north of the five-million.
You can read more about it here.
The terms of Harbaugh’s contract have officially been disclosed.
Harbaugh terms disclosed: 7-year contract, $5 million annually with 10 percent increases after years 3 and 5. A $2 million signing bonus.
— Brendan F. Quinn (@BFQuinn) December 30, 2014