John Harbaugh agreed to the five-year deal the New York Giants offered him earlier this week, the franchise announced Saturday. Sources told ESPN’s Adam Schefter that the deal will pay Harbaugh $20 million per season.

Earlier Saturday, Harbaugh spoke with Schefter, telling ESPN about his decision that “this is the New York Giants. I’m proud and honored to be the head coach of this historic franchise, and especially excited to work with the Mara and Tisch families. But most of all, I can’t wait to get started with the great players on this football team to see what we can accomplish together.”

Harbaugh, 63, spent the past 18 seasons as coach of the Baltimore Ravens, going 180-113 and winning a Super Bowl before he was fired last week after they missed the playoffs.

“We are proud to name John Harbaugh as the next head coach of the New York Giants,” team president John Mara said in a Saturday night news release, announcing the contract. “(General manager) Joe Schoen presented us an outstanding group of candidates, which allowed us to be deliberate and confident in this decision.

“Through numerous conversations, John consistently stood out for his conviction and vision for leading a winning organization, and we welcome him and his family to the Giants.”

The Giants have gone just 7-27 over the past two seasons and could benefit from an established, winning coach. Harbaugh succeeds Brian Daboll, who was fired in November. Mike Kafka served as interim coach for the Giants’ final seven games.

Harbaugh interviewed with the Atlanta Falcons on Monday and had tentative plans to meet with the Tennessee Titans on Thursday, but New York was the first team to have him in its facility for an interview. He arrived Wednesday morning and stayed into the early evening before returning to his Baltimore-area home on Giants owner Steve Tisch’s private jet. It was all part of a full-court press by the Giants to land who they believe is the best, most established candidate available.

“John is a proven winner whose teams are disciplined, resilient, and prepared,” Giants chairman Steve Tisch said in the release. “His passion for the game, his ability to connect with players, and his experience leading at the highest level made him an outstanding fit for us, and we’re excited to move forward together.”

The Giants had cast a wide net in their coaching search before it reached its end. They did in-person interviews with Kafka, Mike McCarthy, Raheem Morris, Kevin Stefanski and Antonio Pierce, sources told ESPN. They talked virtually with Indianapolis Colts defensive coordinator Lou Anarumo, Broncos defensive coordinator Vance Joseph and Denver assistant head coach/special teams coordinator Darren Rizzi.