New Michigan head coach Jim Harbaugh will make around $5 million per year, with the same basic contract he had with the San Francisco 49ers, per prominent Michigan author John U. Bacon. That number is still among the highest in the nation, but lower than the previously reported $8 million figure.
Update, 1 p.m. ET: Michigan confirms it's $5 million a year for seven years, similar to his 49ers contract.
Football Scoop reports Harbaugh will have "complete control" over the program, and "significant changes" are expected. His salary will rank around the top five nationally, depending on the exact figure, and he'll be in the top two in the conference along with Ohio State head coach Urban Meyer.
Where is the rest of that money going? Back into the staff, it appears -- a notable move in a conference that has been unwilling to invest in itself.
Jim Harbaugh told Hackett he did NOT want to be the highest paid coach in CFB, or even the Big Ten. More concerned with pay for assistants.
— John U. Bacon (@Johnubacon) December 30, 2014
Harbaugh's arrival in Detroit was met with much fanfare, and he was reportedly still being pursued by NFL teams while he was in the air. He's expected to be introduced at Michigan's Tuesday basketball against Illinois, with fans planning a "Khaki Out" to welcome him.