According to a report by the Wall Street Journal, Michigan rescinded a new contract offer to Harbaugh that would make him the highest-paid coach in college football amid the sign-stealing allegations. A Michigan spokesperson also told Wall Street Journal it doesn't comment on employment contracts until they are completed and executed...or any other information that may be detrimental to their precious (and vanishing) reputation.
[Mod edit: Already reported in the TTUN Scandal series threads. Please try to keep reporting to this threads.]