Michigan Paying Jim Harbaugh $5M a Year Is the Steal of the Season

Jim Harbaugh was introduced Tuesday as the head football coach at Michigan, returning to his alma mater after mutually parting ways with the San Francisco 49ers.

And he's giving the Wolverines a hometown discount.

According to Angelique S. Chengelis of The Detroit News, Michigan signed Harbaugh to a seven-year contract worth $5 million per season plus incentives—the same basic deal he had in the NFL.

Five FBS head coaches—Nick Saban, Mark Dantonio, Bob Stoops, Kevin Sumlin and Charlie Strong—made more than $5 million this past season, per the salary database at USA Today.

For Harbaugh to land behind them is a minor shock after previous reports indicated he would make roughly $8 million per year.

According to John U. Bacon, however, Harbaugh went out of his way to avoid becoming the highest-paid coach in college football—or even in the Big Ten. He wants to save money to fill out the rest of his staff:

Landing Harbaugh at $6 million, $7 million or even $8 million per year would have been a coup for the Wolverines. Landing him for less than Oklahoma pays Stoops is highway robbery. He is the perfect head coach entering the perfect program at the perfect time.

Michigan football is in a state of disrepair. The Wolverines are 46-42 since Lloyd Carr retired in 2007, their worst seven-year stretch since going 34-31-2 under Bump Elliott in the 1960s. They have never in the post-Bo Schembechler era needed a win this badly.

In Harbaugh they get a coach with proven NFL success. He took the 49ers to three straight NFC Championship Games—one of which he won—before going 8-8 in 2014. NFL teams like the Oakland Raiders would have broken the bank to hire him this offseason.

Reed Saxon/Associated Press

Thus, no one batted an eye at reports about his record-breaking contract. Making Harbaugh the richest coach in college football would have given him an excuse for dropping down a level. It would not have looked like he was leaving the NFL with his tail between his legs; it would have looked like he was leaving to get paid. And everyone understands getting paid.

But by signing for something substantially less than $8 million, Harbaugh made it clear that something bigger is afoot. This move is about more than dollars and cents, more than hubris and pride and ego. It's about restoring the program he grew up with.

"Throughout my life I have dreamed of coaching at the University of Michigan," said Harbaugh in a statement released by the school.

"Now I have the honor to live it."

	Pre-Harbaugh	Year 1	Peak	Overall
San Diego (FCS)	4-7	7-4	11-1	29-6
Stanford (FBS)	1-11	4-8	12-1	29-21
49ers (NFL)	6-10	13-3	13-3	44-19-1
Michigan (FBS)	5-7	???	???	???

Beyond his proven record of success, Harbaugh placates the old-school fans who think being a "Michigan Man" still matters.

And who's to say for sure that it doesn't?

Tony Ding/Associated Press

Rich Rodriguez came to Michigan with great success but little cultural connection to Ann Arbor. Look how that turned out.

Brady Hoke came to Michigan with little success but great cultural connection to Ann Arbor. Look how that turned out.

Harbaugh combines the best of both worlds. He has Rich-Rod's coaching bona fides (only better) and Hoke's association with the city (only deeper).

Teddy Greenstein of the Chicago Tribune (subscription required) painted an apt picture of what Harbaugh means to Michigan:

"

People say, and rightfully so, that Pat Fitzgerald is the perfect fit at Northwestern. Harbaugh is so ideal for Michigan, he should chuck the white horse and saddle up a wolverine (Hugh Jackman doesn’t count) for his ride into Ann Arbor.

…What makes Harbaugh so perfect for Michigan?

Start with the fact that his two biggest influences have been Bo Schembechler, the modern godfather of Michigan football, and father Jack Harbaugh, who coached under Schembechler. Jim spent eight years of his childhood in Ann Arbor and quarterbacked the 1986 team to the Rose Bowl, so he won’t need directions to Zingerman’s Deli.

"

Another reason Harbaugh is a perfect fit at Michigan? His area of expertise.

Specifically, the work he does with quarterbacks.

Harbaugh was a three-year starting quarterback for the Wolverines and played 14 seasons in the NFL. He started 140 games as a pro. The last college quarterback he developed was Andrew Luck. The last NFL quarterback he developed was Colin Kaepernick.

Luck became the No. 1 overall draft pick under Harbaugh. Kaepernick became a $100 million man.

	Value	FBS Rank
Yards/Game	170.2	112
Yards/Pass	6.3	100
Touchdowns	10	118
Interceptions	18	117
QB Rating	109.7	110

The biggest problem Michigan has faced the past seven seasons is the lack of a reliable quarterback. Ever since Chad Henne left in 2007, the likes of Steven Threet, Nick Sheridan, Tate Forcier and Devin Gardner have defiled the position.

Even Denard Robinson, who led Michigan to the Sugar Bowl in 2011, struggled with accuracy his entire career and played running back (his future NFL position) after a nerve injury his senior season.

Michigan—once again—could have afforded $8 million per year if it meant landing a quarterback guru. It could not have afforded to let Shane Morris, Wilton Speight and incoming freshman Alex Malzone flame out in the vein of their predecessors.

It got exactly what it needed at a 38 percent discount.

Merry belated Christmas!

Harbaugh was the one and only option for Michigan. There does not appear to have been a Plan B. But he checks every box this coaching search was looking for.

He's not just successful. He's not just a quarterback specialist. He's not just a devout Schembechler Orthodox. 

He's equal parts all of the above.

He's the perfect tonic for what happened with Rodriguez and Hokem and he's coming to Ann Arbor on the cheap. This is without a doubt the biggest steal of the coaching cycle.

And it might be the biggest steal of the decade.

Follow Brian Leigh on Twitter: @BLeigh35