Wednesday December 8th, 2021 6:05AM

Penn State's Franklin agrees to $75M, 10-year extension

By The Associated Press
Related Articles
  Contact Editor

STATE COLLEGE, Pa. (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.

Franklin 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.

Franklin is 67-32 at Penn State with seven bowl appearances in his eight seasons. The Nittany Lions won the Big Ten championship in 2016.

A 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. 12 Michigan State on Saturday.

Franklin previously signed a six-year deal in 2019. The terms of that contract would’ve had him earn $5.75 million next season with a $250,000 raise each remaining year.

“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. “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 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 contract makes leaving Happy Valley a much more expensive proposition for the 49-year-old.

Should Franklin leave for another college or NFL coaching job before April 1, 2022, he would owe Penn State $12 million. If he leaves between that date and Dec. 31, he’d owe $8 million. The buyout decreases to $6 million in 2023, to $2 million the next two years and $1 million each year thereafter.

Although he didn’t point to specifics when asked at his weekly press conference on Tuesday, Franklin has long hinted he’d like to see Penn State upgrade some of its more antiquated facilities.

“We have made, and will need to continue to make, significant investment in our football program because we believe we have a very bright future under James,” Penn State Athletic Director Sandy Barbour said. “With this contract, we are signaling our sustained commitment to being one of the premiere programs in the history of college football. Our goals and aspirations relating to football have never wavered and our investments today and in the future of our program will allow us to compete at the highest level.”


More AP college football: https://apnews.com/Collegefootball and https://twitter.com/AP_Top25

  • Associated Categories: Associated Press (AP), AP Sports, AP Online Football, College Sports, AP Sports - College Football
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
President, VP and spouses help food kitchen for holiday
President Joe Biden and his wife, Jill, helped a local food kitchen prepare Thanksgiving meals for the needy before they leave town like millions of other Americans
5:40PM ( 2 minutes ago )
Man charged with 5 homicide counts in deadly Waukesha crash
Prosecutors in Wisconsin have charged a man with intentional homicide in the deaths of five people who were killed when an SUV was driven into a Christmas parade
5:32PM ( 11 minutes ago )
Penn State's Franklin agrees to $75M, 10-year extension
Penn State football coach James Franklin has agreed to a new 10-year contract that will guarantee him at least $75 million through 2031
5:25PM ( 18 minutes ago )
Associated Press (AP)
Resilient Cardinals regain No. 1 spot in AP Pro32 poll
The Arizona Cardinals, playing once again without starting quarterback Kyler Murray and star wide receiver DeAndre Hopkins, returned to the top spot of the latest AP Pro32 poll
4:06PM ( 1 hour ago )
New York Giants fire offensive coordinator Jason Garrett
The New York Giants have fired offensive coordinator Jason Garrett after a  dreadful performance in a nationally televised game against the Tampa Bay Buccaneers
3:08PM ( 2 hours ago )
Interim coaches Dickert, Gregory lead way for this Apple Cup
When Jake Dickert stepped into the role of interim head coach at Washington State, it was the beginning of a six-week interview in the midst of chaos
2:21PM ( 3 hours ago )
AP Sports
Tom Brady tosses 2 TDs, Buccaneers beat Giants 30-10
Tom Brady threw for 307 yards and two touchdowns and the Tampa Bay Buccaneers beat the New York Giants 30-10
12:18AM ( 17 hours ago )
Harbaugh hopes changes help Michigan finally beat Ohio State
Jim Harbaugh shook up his coaching staff after his contract at Michigan was reworked last winter
6:48PM ( 22 hours ago )
Ex-Raider Ruggs remains on house arrest in fatal crash case
Former Raiders wide receiver Henry Ruggs III received a stern talking-to from a Las Vegas judge but was allowed to remain on house arrest with a continuous alcohol monitor on one ankle and a GPS monitor on the other following a fatal crash he’s accused of causing by driving drunk
12:40PM ( 1 day ago )
AP Online Football
Citadel coach Baucom collapses at Duke, taken to hospital
The Citadel coach Duggar Baucom was taken to a hospital after collapsing barely a minute into a game against No. 5 Duke
10:00PM ( 19 hours ago )
Franklin scores 23, Virginia tops Georgia at Legends Classic
Armaan Franklin scored 23 points to lead Virginia past Georgia 65-55 in the Roman Legends Classic
9:45PM ( 19 hours ago )
Citadel coach Baucom collapses during game at Duke
The Citadel coach Duggar Baucom collapsed barely a minute into a game against No. 5 Duke and was helped off the floor by medical personnel
9:27PM ( 20 hours ago )
College Sports
Florida fires coach Dan Mullen, completing stunning fall
Florida has fired coach Dan Mullen a day after his sixth loss in nine games
4:29PM ( 2 days ago )
AP Top 25: Ohio State jumps to No. 2 past 'Bama, Cincinnati
Ohio State is No. 2 in The Associated Press college football poll, jumping three spots past No. 3 Alabama and No. 4 Cincinnati in a close vote
2:04PM ( 2 days ago )
No. 24 Utah routs No. 4 Oregon, ending Ducks' CFP hopes
Britain Covey returned a punt 78 yards for a touchdown on the final play of the first half, giving Utah 14 points in 27 seconds and a 28-0 lead, and the No. 24 Utes ended No. 4 Oregon’s College Football Playoff hopes with a 38-7 victory Saturday night
12:58AM ( 2 days ago )
AP Sports - College Football
Man charged with 5 homicide counts in deadly Waukesha crash
Prosecutors in Wisconsin have charged a man with intentional homicide in the deaths of five people who were killed when an SUV was driven into a Christmas parade
5:32PM ( 11 minutes ago )
Missouri man exonerated in 3 killings, free after 4 decades
A Kansas City man who was jailed for more than 40 years for three murders has been released from prison after a judge ruled he was wrongfully convicted in 1979
5:23PM ( 20 minutes ago )
Former MLB outfielder, manager Bill Virdon dies at 90
Bill Virdon, who helped the Pittsburgh Pirates to the 1960 World Series before enjoying success as manager of the Houston Astros, has died
5:21PM ( 22 minutes ago )
Fighting gas prices, US to release 50 million barrels of oil
President Joe Biden is ordering a record 50 million barrels of oil released from America's strategic reserve to help bring down energy costs
5:14PM ( 30 minutes ago )
Jury awards $26M in damages for Unite the Right violence
A jury has ordered 17 white nationalist leaders and organizations to pay $26 million in damages over violence that erupted during the deadly 2017 Unite the Right rally in Charlottesville
5:10PM ( 33 minutes ago )