Penn State and head coach James Franklin agree to massive contract extension

You can say that this might be the “Mel Tucker effect”.

While the Michigan State Spartans and their second year head coach are reportedly working out the details on a massive $95 million extension, the Penn State Nittany Lions have leapfrogged them and inked James Franklin to a 10 year pact through 2031:

Per ESPN:

Through the new contract, Franklin will make $7.5 million through base salary, supplemental pay and an annual retention bonus. Franklin will also receive an annual loan of $1 million for a life insurance policy through the entirety of the contract.

He will have built in incentives throughout to add additional income, including $350,000 for winning the Big Ten Championship game, $400,000 for making the College Football Playoff and $800,000 for winning a national championship.

Franklin’s buyout will start at $12 million prior to April 1, 2022, it will reduce to $8 million through Dec. 31, 2022 and will decrease to $6 million in 2023, $2 million in 2024 and 2025, and going to $1 million from calendar year 2026 to 2030.

“Penn State’s future is bright, and I’m honored to continue to serve as your head football coach,” said Franklin. “Nine weeks ago, the administration approached me about making a long-term investment in our football program. This prompted numerous conversations outlining the resources needed to be competitive at a level that matches the expectations and history of Penn State. What’s most evident from those conversations is the importance of our student-athletes’ success both on and off the field.”

Franklin has guided the Nittany Lions to a 53-20 record since 2016, the ninth best winning percentage among Power 5 programs. He has an overall record of 67-32.

– – Quotes via ESPN Link – –

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