Jim Harbaugh, Michigan agree to contract extension

Before Christmas, Michigan Wolverines head coach Jim Harbaugh explained that he was committed to remaining with the program through and beyond 2021 amid reports that he and athletic director Warde Manuel were nearing a new deal. 

Both parties have agreed on the deal's specifics. 

The Michigan Insider's Sam Webb reported on Friday afternoon that Harbaugh has agreed to a five-year, $20 million contract extension. Webb added the deal includes incentives that could increase its annual worth to $8 million. 

Harbaugh holds a record of 49-22 across his six seasons at Michigan, but his inability to defeat the Ohio State Buckeyes coupled with other lackluster results had many believing he and the Wolverines would part ways to free him for a move back to the NFL. 

Harbaugh guided the San Francisco 49ers to Super Bowl XLVII, held in February 2013, but his team fell short versus the Baltimore Ravens. John Harbaugh, Jim's brother, coached Baltimore that night and remains the club's head coach today. 

Jim accepted the Michigan gig in December 2014. 

The Wolverines endured a dreadful 2020 season that involved losing four of six games and then having their final three contests called off due to a COVID-19 outbreak. Ohio State, meanwhile, will face the Alabama Crimson Tide in the College Football Playoff National Championship on Monday night.