After steering Michigan to a triumphant national championship, Jim Harbaugh finds himself not only celebrating the victory but also cashing in on a substantial incentive. Following the Wolverines’ decisive win over the Washington Huskies in the College Football Playoff National Championship Game, Harbaugh’s coffers swell by an additional $1 million, as reported by USA Today’s Steve Berkowitz.
This windfall contributes to a staggering $3 million in incentives for Harbaugh, marking the most substantial single-season amount “by far” over the past five years, according to Berkowitz. The seasoned coach’s impressive earnings began with a $500,000 bonus when Michigan secured a spot in the Big Ten Championship.
Michigan coach Jim Harbaugh will pick up a $1 million bonus for the Wolverines winning the CFP national championship.
He ends the season with $3 million in on-field bonuses.#NationalChampionship
— Steve Berkowitz (@ByBerkowitz) January 9, 2024
Another significant boost came when the Wolverines vanquished Iowa, clinching the conference crown and triggering a $1 million incentive for Harbaugh. An additional $500,000 was added to the tally when Michigan secured a spot in the College Football Playoff.
Harbaugh’s financial victories are not only a testament to his coaching prowess but also reflect strategic negotiations during challenging times. In 2020, amid the pandemic, he willingly took a salary cut but negotiated to retain certain incentives, a decision that continues to pay dividends. Even as he restructured his contract before the 2021 season, these lucrative bonuses remained intact, resulting in over $2 million in incentives for each of the past two seasons.
The Michigan head coach is not alone in reaping substantial rewards. Washington’s Kalen DeBoer, despite falling short in the championship game, netted $1.075 million, including a $450,000 bonus for reaching the pinnacle of the National Championship Game. Notably, the selection committee’s decision favoring Alabama over Florida State secured a $400,000 payday for Nick Saban, and Steve Sarkisian’s success in clinching a Big 12 title and a CFP appearance added $300,000 to his earnings.
With these bonuses factored in, Harbaugh’s 2023 earnings surpass the $11 million mark. As the celebration continues, the coach faces a pivotal decision regarding his future. Michigan has reportedly extended a lucrative 10-year, $125 million contract, aiming to make Harbaugh the highest-paid head coach in college football. The allure of continuing the legacy with the Wolverines or potentially making a return to the NFL adds an intriguing layer to Harbaugh’s post-championship narrative.