The Michigan Wolverines' "indefinite" arrangement with interim athletic director Jim Hackett will pay him $600,000 a year for as long as he is retained in the role.
Per Brendan F. Quinn of MLive.com, "Hackett's appointment letter with U-M is dated Oct. 31, the same day as former AD Dave Brandon's resignation. It outlines the terms of his "indefinite" appointment. That letter is now available on the Michigan communication department's website."
Per the letter, the only terms state that he will be paid $50,000 monthly for a grand total of $600,000 annually. His employment remains subject to regent approval, and he will report to university president Mark Schlissel.
Hackett signed the letter on November 3rd, "at the will of the president, and is expected to continue until such time as a new Athletic Director is installed," per the communication department.
In comparison, former AD Dave Brandon was scheduled to make $900,000 in 2014-15. Thanks to a contract signed through 2018 at the time of his resignation, Brandon was able to work our a $3 million settlement to paid over the next four years, per MLive.com.