Jim Harbaugh Receives A Seven-Year, $35M Deal From Michigan

Update:

Michigan interim athletic director Jim Hackett announced that Jim Harbaugh signed a seven-year, $35 million contract with the university.

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David Jesse and By Mark Snyder of the Detroit Free Press are reporting that Jim Harbaugh has officially signed his contract with the University of Michigan.

• John Bacon reports that Michigan athletic director Jim Hackett said that Harbaugh’s salary will be “roughly $5M a year, plus incentives.“
• Bacon adds that this is similar to the contract he had with the 49ers.
• Harbaugh reportedly told Michigan that he did not want to be the highest paid coach in college football or even the Big Ten.
• Instead, Harbaugh was concerned about paying his assistants.

Previous reports has said Harbaugh’s deal was likely to be a six-year, $48 million contract, but it appears as though they were off by a good margin.

Mike Garafolo reports that the Raiders were offering him more money.

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Raiders sources tell Josina Anderson that the deal is done and Harbaugh will return to his alma mater.

ESPN’s Darren Rovell reports that Michigan will pay Korn Ferry for conducting their head coaching search, which seems like a steal.

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Even though Jim Harbaugh is expected to announced as the new head coach of the University of Michigan, ESPN’s Adam Schefter reports that the Bears, Jets, and Raiders continue to make overtures to the former 49ers head coach in the hope of changing his mind.

• Ian Rapoport confirms that NFL teams are, in fact, calling Harbaugh today.

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ESPN’s Adam Schefter reports that the biggest University of Michigan has been told that Jim Harbaugh taking over as the school’s head coach is a done deal and a press conference is scheduled for Tuesday.

• Albert Breer confirms that Harbaugh has officially agreed to take the Michigan job and it’s now a “done deal.“

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Bruce Feldman reports that Jim Harbaugh is scheduled to take a 10 AM PT flight on a private jet to Michigan Monday morning.

• ESPN’s Adam Schefter reports that Michigan officials believes they will be taking Harbaugh and his wife to Ann Arbor on Monday.

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Ian Rapoport of NFL Media reports the University of Michigan is the “almost certain” destination for Jim Harbaugh, even nothing has been signed as of now.

• Rapoport adds that Harbaugh is expected to make more than $8 million per year.
• The Raiders wanted an opportunity to talk to Harbaugh, but they may not get one, according to Rapoport.

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Bruce Feldman of FOX Sports reports that Jim Harbaugh is expected to be the next head coach of the Michigan Wolverines.

Feldman adds that Harbaugh is flying to Ann Arbor, Michigan, on Monday. As of now, the plan is for Harbaugh to attend Michigan’s home basketball game on Tuesday against Illinois.

FOX Sports’ Jay Glazer reports that the Raiders are still holding out hope they’ll be able to convince Harbaugh to remain in the Bay Area.

Glazer adds that even if Harbaugh has a deal in place with Michigan, the Raiders aren’t going to give up on him until they are told they are out of the running.

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ESPN’s Adam Schefter reports that while many are ready to ticket Jim Harbaugh to Michigan, sources have told him that there is: “No agreement. No deal done.”

According to Ian Rapoport, Michigan officials believe Harbaugh will be their next head coach, but he adds that there is no firm deal is in place at this point in time.

Rapoport mentions that the Oakland Raiders haven’t been told they are out of the mix for Harbaugh.

Reports from Saturday night have said that Harbaugh to Michigan is a done deal and an announcement is expected to be made on Tuesday.

Rapoport confirms that this is a possibility, as Michigan officials are in California and a meeting could take place either tonight or on Monday.

Interestingly enough, Rapoport adds that the Chicago Bears are a team to keep an eye on if Harbaugh wants to remain in the NFL. However, this will likely come down to the Bears willingness to pay big money to land him as their next head coach.

We’ll have more updates as the news is available.