Ann Arbor, Michigan - In the midst of one of the biggest scandals in college football history, Michigan football is pulling out all the stops to keep head coach Jim Harbaugh in Ann Arbor.

NFL Networks' Ian Rapoport spills the beans, sharing that the Wolverines are dangling a seriously enticing contract extension in front of Harbaugh.

Brace yourself for this one: it's a whopping 10-year, $125-million offer that could make him one of the highest-paid coaches in the nation.

But – and there's always a but – the catch is that Harbaugh would have to put his NFL coaching dreams on hold. The deal comes with a clause saying he can't dip his toes into the NFL coaching pool next season. Talk about a high-stakes playbook from Michigan!

"Sources say Harbaugh, whose current deal runs through 2026, received an offer from Michigan for a 10-year, $125-million contract extension that would make him one of the highest-paid coaches in college football. Yet there is a caveat, and it's NFL-related," Rapoport reported.

He added: "If he signed the deal – which he has not yet done – Harbaugh would agree not to entertain or accept an NFL job for the 2024 season. The NFL clause would be one season only, but that's apparently been enough to drag out the process."

In recent headlines, Jim Harbaugh has been connected to the head coach position with the NFL's LA Chargers following the recent firing of coach Brandon Staley.

Previously, Harbaugh explored coaching opportunities with the Minnesota Vikings and was in the running for the Denver Broncos, though both teams ultimately pursued other candidates.

Should Michigan iron out the details of this lucrative contract, will Jim Harbaugh put pen to paper, setting aside his NFL coaching aspirations?