Harbaugh Could Take Financial Hit Over Michigan Sign-Stealing Reports

The accusations of sign-stealing and controversy surrounding the University of Michigan’s football team, which has triggered a variety of hot takes around college football, is now reportedly hitting head coach Jim Harbaugh’s finances.

According to the Wall Street Journal, Michigan has rescinded a new contract offer that would have made Harbaugh the highest-paid coach in the Big Ten. Harbaugh, however, has refuted the report — noting, “I wouldn’t say that’s accurate.”

Harbaugh currently makes a little more than $8 million annually, which ranks 12th in the nation and fourth in the Big Ten. Ohio State coach Ryan Day tops the conference with a $10.27 million annual salary — the fourth-highest in the country.

While exact terms of Harbaugh’s contract offer are unclear, a deal to top all other Big Ten coaches would be close to $11 million.

Back To The Pros?

In recent offseasons, Harbaugh has interviewed for several vacant NFL head coaching jobs, but so far has resisted returning to the professional ranks. He coached the San Francisco 49ers from 2011-2014, earning Coach of the Year honors in 2011 and appearing in Super Bowl XLVII.

However, heading back to the NFL likely would not help Harbaugh avoid potentially penalties from the sign-stealing scandal. If he were suspended by the NCAA and accepted an NFL position, Harbaugh could still be subject to some or all of that punishment, according to NFL.com.