Jim Harbaugh returns home as Michigan's new football coach

Jim Harbaugh was officially introduced as the new football head coach at Michigan, calling the return to his alma mater a "homecoming" and vowing "excellence" for a football program seeking their first national championship since 1997. The school made the announcement just two days after he left his job as head coach of the NFL's San Francisco 49ers.

Michigan interim athletic director Jim Hackett confirmed that Harbaugh signed a seven-year deal worth $5 million per year -- the same salary he received with the 49ers. Harbaugh also received a $2 million signing bonus, according to Hackett.

Harbaugh, 51, coached the 49ers to three straight NFC Championship Games and took part in the 2013 Super Bowl against his brother, John, who is the head coach of the Baltimore Ravens. After San Francisco slipped to 8-8 this season and missed the playoffs, Jim parted ways with the team Sunday in what both sides called a mutual decision.

As a starting quarterback for three seasons under Bo Schembechler, Harbaugh is well remembered for delivering a victory he guaranteed over Ohio State in 1986. During that time, he was named Big Ten Player of the Year and finished third in the Heisman Trophy voting.

Harbaugh went 58-27 overall as a college coach at San Diego and Stanford, including a 29-21 record in four seasons with the Cardinal. He took over a 1-11 team when he was hired in December 2006 and quickly turned the program back into a winner and bowl contender.