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Penn State Football: Breaking Down James Franklin's New Contract

by on August 18, 2017 11:55 AM

The Penn State Board of Trustees's compensation committee met Friday morning to approve the new terms of James Franklin's long awaited contract extension.

Franklin was set to enter the 2017 season with two years left on his contract with a base salary of $1.6 million with overall compensation reaching $4.3 million before performance related bonuses. That total was 11th best among college football coaches in 2016 coming behind only Urban Meyer and Jim Harbaugh in the Big Ten.

Under his new six-year deal Franklin is set to make much more.

“James and his staff have done an exceptional job with our football student-athletes and in all aspects of the football program,” Penn State athletic director Sandy Barbour said. “His values are Penn State’s values and they resonate throughout every member of the organization and team he has built. James is a tremendous leader of young men, motivating them to extend their reach and impact far beyond what they might have thought possible on the field, in the classroom and community. We are excited about continuing to work together to strive to make a lifetime of impact, win championships and celebrate many successes on and off the field along the way.”

Franklin's new contract won't see a significant pay bump until it's second half. In fact in 2017 Franklin will earn $4.3 the same he was slated to make under his old contract. In 2018 a modest bump will bring the total to $4.5 million before the 2019 season when his pay will increase to a salary of $5.35 million. All told Franklin's annual compensation will go up $100,000 the next two seasons from his previous contract.

Each of the following years Franklin's pay will increase by $300,000 until is maxes out in the final year of the deal for $6.25 million in 2022. His retention bonus payable on the last day of the year is also worth $300,000 for the majority of his contract.

In terms of performance related bonuses Franklin's new contract mirrors his old one based on Big Ten Title game, bowl and playoff appearances. Franklin cannot earn more than $1 million in bonuses per year.

As far as his buyout Franklin's buyout in $2 million in 2017 and just $1 million the remainder of his contract. He also is able to use a university private jet for 50 hours, up 15 hours from his previous contract.

To summarize: 

Annual comp not including retention or performance bonuses.

  • 2017: $4.3 million
  • 2018: $4.5 million
  • 2019: $5.35 million
  • 2020: $5.65 million
  • 2021: $5.95 million
  • 2022: $6.25 million

Ben Jones covers Penn State football and basketball for He's on Twitter as @Ben_Jones88.
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