Breaking News: Jim Harbaugh Agrees To 5-Year Contract With San Francisco 49ers

Matt WagnerCorrespondent IIJanuary 7, 2011

MIAMI, FL - JANUARY 03: Head coach Jim Harbaugh of the Stanford Cardinal celebrates as he is lifted up by his players including Orange Bowl MVP Andrew Luck #12 (R) after Stanford won 40-12 against the Virginia Tech Hokies during the 2011 Discover Orange Bowl at Sun Life Stadium on January 3, 2011 in Miami, Florida. (Photo by Streeter Lecka/Getty Images)
Streeter Lecka/Getty Images

Breaking news regarding Stanford coach Jim Harbaugh just came through.

Stanford head football coach Jim Harbaugh just agreed to a five-year contract around $25 million with the San Francisco 49ers, according to ESPN NFL Insider Adam Schefter.

This is an excellent hire by the 49ers, as they are now only a few pieces away from making an appearance in the NFL Playoffs. 

Regarding Andrew Luck, he announced yesterday that he will not declare for the 2011 NFL Draft and return to Stanford.

Luck has until January 14 to change his mind, but judging from his reasons to stay, one of which was to get a degree, I do not think that Luck will change his mind and I ultimately believe he will stay at Stanford.

Harbaugh just ended the sweepstakes for his services and could possibly be the first step towards resurrecting the San Francisco 49ers. The finished product could take a few years to develop, but 49er fans should be optimistic about their team's future with Jim Harbaugh's hiring.