Jim Harbaugh net worth
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What is Jim Harbaugh’s net worth and salary?
Jim Harbaugh is an American football coach with a net worth of 35 million U.S. dollars and a basic annual salary of 5 million U.S. dollars. Although Harper’s career as a quarterback at the University of Michigan and the NFL was very successful, he may be best known today as a coach. Before accepting the position of head coach of the San Francisco 49ers, he first became the head coach of college teams such as San Diego Torreros and Stanford Cardinals.
After leaving the 49ers in 2014, Jim returned to his alma mater in Michigan with a generous coaching contract. Harbaugh started his football journey with the Chicago Bears, serving as their quarterback from 1987 to 1993. He then played for the Indianapolis Colts for three years, and then ended his career with the Baltimore Ravens and the San Diego Chargers. He achieved remarkable success with the Colts and participated in the AFC Championship in 1995.
early life
James Joseph Harbaugh was born on December 23, 1963 in Toledo, Ohio. Growing up with his brother John (who will also have a successful career in football), Jim often moved with his family, while his father accepted assistant coach positions at universities across the country. During this time, he lived in Kentucky, Iowa, Michigan, Stanford University and other places. As he kept moving, Jim transferred between many different high schools and eventually graduated from California high school in 1982.
After graduating from high school, Jim played college ball for the Michigan Wolverines. Although his start was a bit slow, Harbaugh completed his college career and obtained some impressive statistics. He ended his college career with 5,449 passing yards, while maintaining Michigan’s historical passing yard record. He also received a bachelor’s degree in communications during college.
Profession
By 1987, Jim was ready to compete in the NFL. He was selected by the Chicago Bears and started playing under the guidance of coach Mike Ditka. However, it wasn’t until the 1990 season that he won the starting quarterback position for the first time. By 1991, he started all regular seasons for the Bears. By 1992 and 1993, the bear market began to decline rapidly. Ditka was fired, and Harper soon signed with the Indianapolis Colts. He started his career with the Colts in 1994 and had one of his best seasons in 1995, leading the team to the AFC Championship. Jim then ended his career with the Baltimore Ravens, San Diego Chargers, Detroit Lions and Carolina Panthers.
Coaching
Even when he was still playing in the NFL, Jim was pursuing a career as a coach in colleges like Western Kentucky. Before becoming the head coach of the University of San Diego and Stanford University, he served as the quarterback coach of the Oakland Raiders. In 2011, he was appointed as the new coach of the San Francisco 49ers. Despite becoming one of their most successful coaches in just four years, Jim left the team in 2014. He said, “I didn’t leave the 49ers. I think the 49ers have left me.”
Jim then joined the University of Michigan in 2015, and in the following years, he worked hard to make an impact. Nevertheless, Harbaugh signed a four-year extension agreement in 2021, which will allow him to stay in the college until 2025.
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contract
From 2011 to 2014, Jim served as the coach of the San Francisco 49ers. In 2011, he joined the team with a five-year $25 million contract. In 2015, he was hired as the head coach of his alma mater, the University of Michigan. His contract with Michigan pays Jim approximately $7.5 million annually. This is enough to make him one of the highest paid college coaches in the United States. His base salary averages about US$550,000 per year, but Harbaugh’s additional salary is US$5 million, and another US$2 million is paid to life insurance. The contract also stipulates that he is eligible for a 10% salary increase after three years. In addition, the contract gave him the possibility of a 10% salary increase for the second time in five years.
By 2020, the University of Michigan has paid Jim US$45.4 million. Many observers are puzzled because he has only achieved a record of 1-4 bowls during this period. Of the US$45.4 million, US$33.4 million comes directly from salary, and another US$2 million is paid directly to his life insurance policy every year. He can withdraw these funds from the life insurance policy at any time without being subject to tax penalties. Having said that, technically, the University of Michigan should get all this money back after Harbaugh’s death. By the time of his death, the total amount was estimated to be between 35 and 75 million U.S. dollars.
In addition, it was revealed that Jim’s contract allowed him to use a private jet. The rules stated that the jet should be used for “recruitment procurement”, which allowed him to travel across the country as soon as he was notified. In his first month at the University of Michigan, he spent at least 12 days using the plane, at a cost of $10,000 per day. This means that he spent $120,000 on a private jet in less than two weeks.
real estate
In 2012, Jim spent $6.3 million to buy a house in Atherton, California. He listed the house for sale in August 2021 for $12.98 million.
In 2018, it was reported that Jim Harbaugh rented out his Coronado, California house. Depending on the season, the rent varies from $15,000 per month to $35,000 per month. This residence is not far from San Diego Bay and was first purchased by Harbaugh Estate about a year ago. Officially, Sarah Harbaugh Revocable Trust purchased the house for more than $4 million. The residence occupies 4,650 square feet and has six bedrooms. The property can also enjoy magnificent sea views from the roof deck and balcony, just a few steps from the beach.
