Should Franklin leave for another college or NFL coaching job before April 1, 2022, he would owe Penn State $12 million. This contract makes leaving Happy Valley a much more expensive proposition for the 49-year-old.
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What’s most evident from those conversations is the importance of our student-athletes’ success both on and off the field.”įranklin had been asked multiple times this season about his name surfacing as a candidate for other jobs, notably LSU and USC, and he never outright shot them down. “This prompted numerous conversations outlining the resources needed to be competitive at a level that matches the expectations and history of Penn State.
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“Nine weeks ago, the administration approached me about making a long-term investment in our football program,” Franklin said in a release provided by the athletic department. The terms of that contract would’ve had him earn $5.75 million next season with a $250,000 raise each remaining year. 12 Michigan State on Saturday.įranklin previously signed a six-year deal in 2019. The Nittany Lions won the Big Ten championship in 2016.Ī Pennsylvania native who called the Penn State gig his “dream job” when he was hired away from Vanderbilt in 2014 will coach his 100th game at Penn State when the Nittany Lions visit No. (AP) - Penn State football coach James Franklin agreed to a new 10-year contract Tuesday that will guarantee him at least $75 million through 2031.įranklin and Penn State’s Board of Trustees agreed to the terms, which include a yearly base salary of $7 million, retention bonuses of $500,000 each year and a $1 million annual loan for life insurance.įranklin is 67-32 at Penn State with seven bowl appearances in his eight seasons.