Yes, It Turns Out U-M Can Afford $49 Million to Pay Harbaugh

An analysis by Forbes values the University of Michigan Wolverine football program at $117 million. With 2014 profits at $65 million, it appears the program is financially positioned to offer a $49 million contract to current San Francisco 49ers Coach Jim Harbaugh. (Photo: Brian Bahr/Getty Images)

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The University of Michigan Wolverines just completed their third straight losing season on the gridiron, failed to get a bowl bid, and fired head coach Brady Hoke.

But the program is still a cash cow for U-M. Forbes reports that with a value of $117 million, the Wolverine football program is the third-most-valuable college football program in America.

The program posted posted profits of $65 million for the 2014 season after a $10 million spike in revenues over the 2013 season.

Forbes said the program increased its revenues to $91 million by hosting one more game in 2014 than in the year prior.

The ledger shows Michigan is financially in a good position to make a six-year $49 million mega offer to San Francisco 49ers Coach Jim Harbaugh to rebuild the program. Harbaugh’s father was an assistant coach for the Wolverines in the 1970s.

Tell Us:

• Is Jim Harbaugh worth $49 million? Who would you like to see in the head coach position?

According to ESPN, Harbaugh is “torn” between taking the Michigan job and remaining with the NFL.

The most-valuable college football programs in America are the No. 1 Texas Longhorns ($131 million) and the No. 2, Notre Dame Fighting Irish ($122 million).

The Michigan State University Spartans are No. 16 ($72 million) on the list.