In what can only be described as “better late than never,” Michigan head coach Sherrone Moore finally put pen to paper on his contract last week. For those keeping score, Moore had been working off a mere memorandum of understanding since January. That’s right—while most people wouldn’t even start a new job without a proper contract, Moore apparently had no problem cruising through the offseason without one.

Now, why did it take Michigan so long to get this done? The conspiracy theorists in Ann Arbor might want you to believe it was a routine process, but us Ohio State fans know better. The more plausible reason is that Michigan was busy double-checking to make sure no more NCAA skeletons were going to fall out of Moore’s closet. After all, the guy’s been accused of deleting 52 text messages related to Michigan’s infamous sign-stealing scandal—because who doesn’t love a good cover-up when they’re in charge of a major college football program?

The new contract, which Michigan and Moore signed after the school received its Notice of Allegations from the NCAA, has some interesting fine print. According to the contract, Michigan can still fire Moore for any rule violations, but only if they didn’t already know about them. In other words, as long as nothing new comes to light, Michigan and Moore are cool. It’s as if the school is saying, “We’ve accepted our fate with whatever the NCAA throws at us, and as long as we already know the dirty laundry, we’ll keep you around.”

Of course, there’s a catch. The contract also has a clever little clause that says Moore can’t be fired for any past violations if Michigan knew about them when they signed the deal. So, let’s say the university was well aware of those deleted text messages before they signed on the dotted line (which seems likely at this point), Moore is safe. However, one more misstep, and he could be packing his bags. It’s essentially Michigan giving Moore a “one strike and you’re out” policy—a nice little insurance plan for the university to wash their hands of him if another scandal drops.

For how much longer? Will the NCAA be taking wins away from Michigan?

Speaking of insurance, Moore’s buyout is nothing to sneeze at. If Michigan gets cold feet and decides to cut ties without cause, they’d owe him 75% of his remaining salary. But don’t worry, Wolverines, that buyout gets reduced if he finds another job—assuming anyone else would want to hire him after all this.

As for the money, Moore is set to earn a cool $5.5 million in 2024, with his pay steadily increasing to nearly $6 million by 2028. Add in some juicy bonuses for winning the Big Ten, making the College Football Playoff, and keeping his APR above 960, and it looks like Moore’s sitting pretty—assuming, of course, nothing else comes out of those NCAA investigations.

All in all, while Michigan may have locked up its head coach, there’s no denying this contract feels less like a commitment and more like a ticking time bomb. Moore might have dodged this bullet, but if history is any guide, Ohio State fans will be watching and waiting for the next chapter in Michigan’s ongoing saga of off-field drama. After all, we know how this story usually ends… Go Bucks!