Written by Graham Watson at YahooSports.com
Nick Saban is no longer the nation’s highest-paid college football coach.
According to USA Today’s annual release of coaching salaries, Michigan coach Jim Harbaugh will earn more than $9 million in 2016 ($9,004,000). That’s a big jump from a year ago, when Harbaugh was making $7,004,000 and trailed Saban by less than $100,000.
Part of the jump is thanks to a life insurance loan Harbaugh agreed to back in August. In that contract restructuring, Harbaugh makes $5 million as a base salary and then an additional $4 million as a loan against a premium on a life insurance policy taken out by the university. Harbaugh then receives an additional $2 million for each of the next five years as part of the loan. The $4 million he receives in 2016 is paid in increments. He received $2 million on June 3 and will receive the other $2 million if he’s still the Wolverines’ coach on Dec. 6.
Saban, who has long been the salary torchbearer on this yearly list, is second with $6,939,395, followed by Ohio State’s Urban Meyer ($6,003,000), Oklahoma’s Bob Stoops ($5,550,000) and Florida State’s Jimbo Fisher ($5,250,000).
Charlie Strong, whose job security is in question at Texas, ranks sixth on the list with a salary of $5,200,000. Houston’s Tom Herman, the most sought-after Group of Five coach, is making $3,003,500, which ranks 35th on the list.
New Mexico State’s Doug Martin is listed as the lowest-paid coach at $376,044, but nine schools — Baylor, BYU, Tulane, SMU, USC, Tulsa, Pittsburgh, Miami and Syracuse — did not submit contract information to USA Today.
While the coaching salaries are interesting (and some a tad ridiculous), the more interesting story in USA Today’s presentation is how much it would cost to fire a coach.
For example, if Florida State wanted to part ways with Jimbo Fisher, it would cost the school $33,125,000. Kirk Ferentz, who has been on the hot seat for seemingly 10 years, has a buyout of $25,304,167. No wonder Iowa has been so reluctant to part ways with him. On the flip side, San Diego State can get rid of coach Rocky Long for the bargain price of $349,334.
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