Per ESPN:
Jim Harbaugh agreed to a five-year, $25 million contract to become the San Francisco 49ers‘ head coach Friday, according to team and league sources.
The 49ers announced a news conference scheduled for 6:30 p.m. ET, but did not indicate the reason.
Earlier Friday, a source told ESPN senior NFL analyst Chris Mortensen that Stanford was the favorite to retain Harbaugh’s services.
On Thursday, Harbaugh met with top Stanford officials — including university president John Hennessey — so that the school could make its best offer to try to retain him. The university reportedly increased an offer it had made to Harbaugh in December.
The 49ers met with Harbaugh Wednesday, and a source said that on Thursday night, after news broke that Harbaugh would not go to the Miami Dolphins, San Francisco was willing to increase its offer.
Harbaugh decided to make the jump to the pros even though San Francisco has missed the playoffs for eight straight seasons and Orange Bowl MVP quarterback Andrew Luck decided to remain at Stanford for another season.
Harbaugh long admired the late Hall of Fame coach Bill Walsh, one of his mentors, and how Walsh made the successful leap from Stanford to the 49ers.
Now, he must turn around a once-proud franchise that is desperate to become a contender again right away. The 49ers were picked to win the NFC West this season, then began 0-5 for their worst start since losing seven straight to begin a 2-14 season in 1979 — Walsh’s first year as coach.
The 49ers are set to play the Ravens next season, meaning Harbaugh will coach against Baltimore coach and big brother John Harbaugh.
Niners team president and CEO Jed York said when Mike Singletary was fired that money would be no object in finding the team’s next coach. He promoted vice president of player personnel Trent Baalke to general manager earlier this week, then they worked together to make their push for Harbaugh, who also was in talks with the Miami Dolphins and Stanford.
The 47-year-old Harbaugh went 58-27 overall as a college coach and 29-21 in four seasons at Stanford. 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.
The Cardinal went 4-8 in his first season, 5-7 the next, then improved to 8-5 and earned a Sun Bowl berth in 2009 — the school’s first bowl appearance since 2001.
When Stanford arrived back on campus Tuesday, one man hollered “Stay in the Bay Area!” when Harbaugh hopped off the bus carrying his 2-year-old daughter, Addison. He also has a newborn baby girl.
Harbaugh was the Oakland Raiders‘ quarterbacks coach from 2002-03 before spending three seasons as head coach at the University of San Diego.
Harbaugh, a college star at Michigan where there also is a coaching vacancy after the firing of Rich Rodriguez, played 15 seasons in the NFL for the Bears, Colts, Ravens, Chargers and Panthers. A first-round draft pick taken 26th overall by Chicago in 1987, Harbaugh completed 2,305 of 3,918 passes for 26,288 career yards and 129 touchdowns in the NFL. He also ran for 18 TDs.
