After playing a substantial role in guiding the Michigan Wolverines to the 2024 College Football National Championship, Sherrone Moore has been elevated to the head coach role in Ann Arbor. What salary will Moore command as the replacement for Jim Harbaugh, and what are his other contract details and net worth with the promotion to leader of the national champions?
Sherrone Moore’s Salary and Contract in 2024
With Jim Harbaugh returning to the NFL with the Los Angeles Chargers, Moore signed a five-year contract to become the new Michigan head coach. The former offensive line coach will earn a $5.5 million salary for the 2024 college football campaign.
That figure for the 2024 season — or January 27, 2024, to January 31, 2025, per the wording in his contract — comprises a $500,000 base salary and $5 million “additional compensation.” Moore can add another $500,000 at the end of each contract year that he remains at the helm in Ann Arbor.
While Moore’s salary in 2024 is $5.5 million, his earning potential increases with each contract year. Both base salary and additional compensation will rise by 2% each year, resulting in a salary breakdown during the five-year contract as illustrated below:
- Contract Year 1 salary: $5,500,000
- Contract Year 2 salary: $5,610,000
- Contract Year 3 salary: $5,722,200
- Contract Year 4 salary: $5,836,644
- Contract Year 5 salary: $5,953,267
Moore’s salary under his new contract represents exceptional financial business for Michigan. According to mlive.com, former head coach Harbaugh was negotiating a six-year deal that would have paid the now-Chargers coach $12 million annually to remain in Ann Arbor. They’ll now pay their leader less than half that.
However, Moore’s value to the Wolverines cannot be measured just in the accounting ledger. The appointment of the popular coach will help the program retain talent amidst the lure of the transfer portal, keeping their top playmakers in Ann Arbor for the upcoming college campaign and beyond.
“Sherrone has proven to be a great leader for our football program, especially the offensive line and players on the offensive side of the football,” Michigan Director of Athletics Warde Manuel explained during the introduction of the 21st football head coach of the Wolverines.
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“He is a dynamic, fierce and competitive individual who gets the best out of the players he mentors. The players love playing for him and being with him in the building every day. Sherrone stepped up this fall and served as the interim head coach when the program and especially the team needed him.”
The latter comment refers to Moore going undefeated in the games where he stepped in to replace the suspended Harbaugh during the 2023 college football season. The galvanizing impact in a time of uncertainty, not to mention the perfect record, made the offensive line coach the obvious replacement at the helm.
Suppose Moore continues his success as he transitions roles within the program, attracting the attention of other programs nationwide. In that case, his contract contains a staggered buyout that starts at £5 million after the first year and drops by a million each subsequent year, bottoming out at $1 million.
Moore’s Net Worth
Based on his five-year contract as the head coach of the Wolverines and his annually increasing salary, Moore has a net worth of $28,622,111. However, that doesn’t include any accrued income from his role as the offensive coordinator in Ann Arbor. It also doesn’t include the $500,000 annual retention fee that will be added to his salary after every completed year of his contract.
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Additionally, Moore’s contract contains an impressive and extensive performance payout package, as listed below:
- Appearing in the Big Ten Championship Game: $250,000
- Winning the Big Ten Championship: $500,000
- College Football Playoff initial appearance: $200,000
- College Football Playoff quarterfinal appearance: $300,000
- College Football Playoff semifinal appearance: $500,000
- College Football National Championship appearance: $750,000
- Winning the College Football National Championship: $1 million
Furthermore, Moore can earn up to $150,000 if the football team achieves an Academic Performance Rate of 960 or higher.
Finally, the Michigan head coach will receive standard university benefits such as two automobiles, tickets to athletic contests, and 10 annual personal charter flight hours.
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