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Michigan hires Sherrone Moore to replace Jim Harbaugh

Jim Harbaugh has moved on to the NFL. Sherrone Moore has moved in to Harbaugh's prior job.

The Michigan assistant who replaced Harbaugh for three late-season wins (including a victory over Ohio State) will now replace Harbaugh as the permanent head coach.

Via ESPN.com, Moore has a five-year deal to lead the Wolverines.

He'll make $5 million per year with a two-percent annual raise (two percent of $5 million in $100,000). He also receives another $500,000 for each completed contract year, and he can earn up to $3.5 million per year in bonuses, including $500,000 for winning a conference championship and $1 million for winning the national championship.

Moore's buyout begins at $5 million and reduces by $1 million each year, down to $1 million in the last year of the deal.

The 37-year-old Moore becomes the first Black permanent head football coach in the school's history.

"I have been preparing my entire coaching career for this opportunity and I can't think of a better place to be head coach than at the University of Michigan," Moore said in a statement, via ESPN.com. "We will do everything each day as a TEAM to continue the legacy of championship football that has been played at Michigan for the past 144 years. Our standards will not change. We will be a smart, tough, dependable, relentless, and enthusiastic championship-level team that loves football and plays with passion for the game, the winged helmet and each other.

"We will also continue to achieve excellence off the field, in the classroom and in our communities. I am excited to start working in this new role with our players, coaches and staff."

He's already off to a great start, having beaten the Buckeyes in his one and only try.