Here's What Jim Harbaugh's New Michigan Contract Should Look Like if Wolverines Renew Deal

The latest rumor around Ann Arbor is that the Michigan athletic department is considering extending Jim Harbaugh's contract. While that may seem abysmal to some, we have to consider that despite all of Harbaugh's flaws, he's realistically the best fit for Michigan right now.

No new head coach is going to come in and take Michigan to the College Football Playoff or beat Ohio State on a regular basis. It's quite simply unrealistic, and any great football mind would be far behind the eight ball upon arrival.

Jim Harbaugh Contract

Harbaugh's contract runs through 2021, and he makes a little over $7 million a season. His lack of production makes such a salary unacceptable, so any new contract should reflect that.

Rather than giving Harbaugh $7 million per season, Michigan should lower his overall salary by $2 million per year via a short-term extension to, say, 2023 or 2024. This way, opposing teams can't use Harbaugh's job security against Michigan in recruiting.

With that deal, however, comes significant incentives if Michigan does the impossible and beats Ohio State or makes the CFP or Big Ten Championship Game. Those are the goals Michigan essentially set for Harbaugh when they hired him, and they have yet to be reached.

College football fans are reveling in Michigan's failures, and surely would rip the Wolverines for extending Harbaugh. Yet, Michigan, as currently constructed, isn't one of the better programs in college football, period, despite how much money they throw at it.

Give Harbaugh some more time with his expectations clearly identified in fine print.