Life Insurance An Added Perk For Michigan Coach Jim Harbaugh

Michigan athletic director Warde Manuel said last year he wanted Jim Harbaugh to stay at U-M until he retired.

On Monday, Manuel reiterated that same desire.

"I stand by my decision and my statement that I want him to retire here," Manuel said at the Big Ten athletic director meetings.

When asked if he had discussed a contract extension with Harbuagh, Manuel declined to comment.

"I'm not going to announce any conversations I've had with Jim about his contract or whatever," Manuel said.

Harbaugh is about to enter Year 5 of his seven-year deal that was crafted by then-interim athletic director Jim Hackett. In 2016, a deferred compensation addendum in the form of a life insurance policy added $2 million to Harbaugh's yearly earnings.

Last year, Harbaugh earned $7.504 million in total pay, third-highest in the nation behind Alabama's Nick Saban and Ohio State's Urban Meyer, who has since retired.

Harbaugh's original contract is set to expire in 2021. His base salary is scheduled to increase by 10 percent in January 2020. His contract also calls for "an evaluation of Harbaugh's performance and a review of his compensation compared with that of his 'peers' at this point."

If it is determined that Harbaugh is compensated "less than his fair market value," then there would be negotiation to increase Harbaugh's compensation to fair market value. This increase would take the place of the originally scheduled 10 percent increase, if valued to be more.

Contact Orion Sang at [email protected]. Follow him on Twitter @orion_sang. Read more on the Michigan Wolverines and sign up for our Wolverines newsletter.

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