Michigan is reportedly nearing an agreement with head coach Jim Harbaugh on a five-year contract with a base salary of $4 million, according to Nick Baumgardner of The Athletic.
His salary could escalate to $8 million if he reaches his incentives, and the buyout is expected to be low. Harbaugh has yet to sign the deal, but he is expected to do so soon.
Harbaugh just completed his sixth season at the program, leading the team to a 2-4 record, the first losing season in his tenure. The 57-year-old was reportedly waiting to see if any NFL teams were interested, as there are currently several openings.