(Reuters) - American football coach Jim Harbaugh formally accepted the head coaching position at the University of Michigan on Tuesday, two days after parting company with the San Francisco 49ers.
Harbaugh has been signed to a seven-year contract, university interim Athletics Director Jim Hackett said while introducing the 51-year-old in Ann Arbor as the school's 20th head coach.
According to media reports, Harbaugh's deal is worth about $5 million a year.
"To come back as football coach, I have dreamed about that since the time I was a young lad. Now it's time to live that," said Harbaugh, who played college football at Michigan in the 1980s before embarking on a 14-season career in the NFL.
"You have my pledge. I will carry forward the tradition of excellence of the University of Michigan football program."
Harbaugh replaces Brady Hoke, who was fired earlier this month after four seasons as Michigan head coach. During that time, Hoke compiled a 31-20 record but was just 5-7 this season.
Harbaugh left the 49ers by "mutual" agreement after the 2014 regular season ended on Sunday, having guided the team to a disappointing 8-8 record.
He steered San Francisco to two NFC title games and a Super Bowl appearance in the three previous seasons, but a growing rift with general manager Trent Baalke and the team's dreary performance this season resulted in his departure.
(Reporting by Andrew Both in Cary, North Carolina; Editing by Mark Lamport-Stokes)