Jim Harbaugh’s presence has raised the expectations at Michigan. Entering year two of his tenure, Michigan has raised Harbaugh’s salary.
The Detroit Free Press reported Wednesday that Harbaugh signed an $2 million contract addendum earlier in the summer. The report stated Harbaugh will receive the extra $2 million per year in the form of a life insurance policy. That goes on top of his base salary of $5 million and makes Harbaugh’s annual salary $7 million.
ESPN’s Dan Murphy and Darren Rovell reported more on the specifics of the contract addendum Wednesday. According to their report, Harbaugh received $2 million on June 3 as part of that addendum, with additional installments to be paid each December starting this year.
That means Harbaugh will actually receive $9 million in 2016, making him the highest paid coach in college football this year.
At $7 million per year, Harbaugh is the second-highest paid coach in college football. Harbaugh falls narrowly behind Alabama’s Nick Saban, who makes $7,087,041 per year according to a list published by USA Today last fall. Harbaugh checked in at $7 million on the list, but the bump was due to his signing bonus.
Harbaugh, with the $2 million addendum, now has the largest annual salary in the Big Ten, edging Ohio State’s Urban Meyer and his $5,860,000 salary, which is the third-largest in the nation.
Harbaugh has only coached Michigan in 13 games so far, going 10-3 last season.