When Michigan fired Rich Rodriguez in January 2011 after three disastrous seasons as head coach, they owed him a $2.5-million buyout. Five years later, when Michigan fired Brady Hoke after four (mostly) disastrous seasons as head coach, they owed him a $3-million buyout. If the Wolverines fire Jim Harbaugh before his current contract expires, they'd owe him a hell of a lot more than $2.5 or $3 million.
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Harbaugh signed a seven-year contract when he returned to his alma mater in late 2014. The initial contract called for $500,000 in base salary for each of the seven years along with $4.5 million in additional compensation per year. He also received a $2-millon signing bonus (due within 14 days of signing).
While Harbaugh hasn't signed an extension, he did get a $2-million-per-year raise in 2016, though the raise came in the form of insurance payments and is not included in his base salary or additional compensation.
He is also eligible for several bonuses, among them:
Big Ten Coach of the Year: $50,000
National Coach of the Year: $75,000
Big Ten Championship appearance: $125,000
Big Ten Championship: $250,000
Playoff appearance: $300,000
National championship: $500,000
If Michigan fires Jim Harbaugh without cause before the end of his seven-year contract, he is owed the annual base salary and additional compensation "for the remainder of the term." His contract runs from Jan. 11 through Jan. 10 of the following year. Therefore, for example (and simplicity's sake), if Harbaugh is fired on Jan. 10, 2020, after his fifth season as head coach, he is owed a buyout of $10 million.
After 2020: $10 million
After 2021: $5 million
