Michigan Hires Jim Harbaugh

11:40am: ESPN’s Michele Steele provides a full breakdown of Harbaugh’s deal (via Twitter), which includes a number of potential incentives and bonuses.

11:13am: Officially announcing the hiring of Harbaugh at a press conference, Hackett confirmed that the former Niners coach signed a seven-year, $35MM contract (Twitter link via Matt Maiocco of CSNBayArea.com).

TUESDAY, 9:26am: According to John U. Bacon (Twitter links), Harbaugh’s salary with Michigan will be about $5MM a year plus incentives, which is a similar deal to the one he had with the Niners. Bacon says that Harbaugh told Michigan AD Jim Hackett he didn’t want to be the highest-paid coach in college football, and that he was more concerned about pay for his assistants.

Mike Garafolo of FOX Sports reported earlier that the Raiders’ offer to Harbaugh was higher than Michigan’s, which makes more sense if Oakland just had to top $5MM or so, rather than approximately $8MM, as had been previously reported.

MONDAY, 7:22pm: The contract is signed, according to David Jesse and Mark Snyder of the Detroit Free Press.

9:30am: As expected, Jim Harbaugh will be the next head coach at the University of Michigan, reports Adam Schefter of ESPN.com, who says the school has told its biggest boosters that a deal with Harbaugh is done and that a news conference is scheduled for Tuesday. Albert Breer of the NFL Network also confirms (via Twitter) that the agreement between Harbaugh and Michigan is done, as had been suggested this weekend by reporters such as John U. Bacon, Dave Feldman of CSNBayArea.com, Bruce Feldman of FOX Sports.

While details on Harbaugh’s new contract with the Wolverines aren’t currently known, a report earlier in December indicated that Michigan was willing to pay $48MM for six years. Breer reported this morning that the deal could ultimately get up to $9MM per year, since there was some “quiet bidding” over the weekend.

While Harbaugh’s departure from San Francisco had been anticipated for some time, he never recorded a losing season with the Niners, compiling a 44-19-1 record in his four seasons with the team. He’ll look to bring some of that success, which included three appearances in the NFC championship game and a loss in the Super Bowl, to a Wolverines team that had a disappointing 2014 season under former head coach Brady Hoke.

The Raiders were among the NFL teams with interest in Harbaugh, and Mike Silver of the NFL Network suggested today (Twitter link) that Oakland owner Mark Davis planned to speak to Harbaugh this morning. There was a belief that the former Niners coach preferred to remain in the NFL, but even with a handful of head coaching jobs opening up today, it appears he couldn’t resist the allure of returning to Michigan, particularly on a deal that makes him the highest-paid coach in NCAA history.

As for the Niners, who agreed to part ways with Harbaugh, Peter King of TheMMQB.com hears that defensive coordinator Vic Fangio will be interviewed, and that GM Trent Baalke may have interest in UCLA coach Jim Mora. Additionally, multiple sources have informed Jason Cole of Bleacher Report (Twitter link) that Mike Shanahan could be a candidate for the San Francisco job. For now, Baalke is set to meet with the team’s assistant coaches to help clarify their futures, per Matt Maiocco of CSNBayArea.com.

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