James Franklin gets huge contract extension to remain with Penn State
There has been a lot of speculation that James Franklin could leave Penn State for one of the other high-profile jobs that opened up in recent weeks, but we now know that is not going to happen.
Penn State announced on Tuesday that Franklin has agreed to a new 10-year contract with the school. The deal ties him to the Nittany Lions through the 2031 season.
According to Steve Berkowitz of USA TODAY Sports, the new contract is worth up to $85 million. Bruce Feldman of The Athletic shared more details of the deal, which includes a $12 million buyout in the short-term.
James Franklin's new 10-year deal with Penn State: He will make $7.5 million per year plus incentives. His buyout starts at $12M before April 2022, then drops to $8M through Dec. 31, 2022.
— Bruce Feldman (@BruceFeldmanCFB) November 23, 2021
Penn State was ranked as high as No. 2 in the country this season, but they faltered after their 5-0 start. That led to talk of Franklin potentially wanting a fresh start elsewhere. He is clearly content in State College, and the financial commitment certainly helps.
Franklin made one big change last month that led many to believe he was going to leave for another job. At the very least, he probably used all those reports to get more money from Penn State.