The Wolverines announced Monday that football coach Jim Harbaugh and basketball coach Juwan Howard — among other head coaches employed by the athletic program — will each take 10% pay cuts from August 1 through the end of the fiscal year. As a result, Harbaugh — currently the third-highest paid coach in the country ($7.5 million) — will make $6.75 million, while Howard’s salary will be reduced from $2 million to $1.8 million.
Michigan anticipates a shortfall of $26.1 million during fiscal year 2021. The coronavirus pandemic is expected to cut revenue from $187.4 million to $135.8 million, which is the genesis for cost-cutting measures that are expected to reduce payroll by $6 million. Team/game expenses are expected to be reduced by $6.5 million.
Michigan coaches Jim Harbaugh, Juwan Howard among Wolverines taking 10% pay cuts amid coronavirushttps://t.co/yrfgDbJCGI
— Barrett Sallee (@BarrettSallee) June 30, 2020
Michigan’s Jim Harbaugh, Juwan Howard among employees to take 10% pay cut https://t.co/4uVhaWFtwv
— Detroit Free Press (@freep) June 30, 2020
Santiago Leon is the Founder and CEO of the Sports Cast. He covers almost every sport: NFL, NBA, and world soccer. He’s also founder of sleon productions, which he specializes in technology and serves clients with solutions to make their business grow.