After many months of James Franklin’s rumored extension, the deal has finally been approved by Penn State’s Board of Trustees’ compensation committee. While the details of the extension have yet to be officially released, Bruce Feldman of Sports Illustrated reports that Franklin’s new deal will be for six years at an average of $5.8 million per year.
SOURCES: James Franklin’s new deal approved w/ #PennState is for 6 YRs at an average of $5.8 million per. His buyout is $2 million this year— Bruce Feldman (@BruceFeldmanCFB) August 18, 2017
Franklin’s original contract had him earning about $4.3 million during the 2016 season, so this is a substantial raise for the Happy Valley head man. If his reported $5.8 million per year salary turns out to be true, he would be the fourth highest paid coach in the country, only behind Nick Saban, Urban Meyer, and Jim Harbaugh, according to Chris Vannini.
In Franklin’s contract extension, there’s also believed to be significant monetary commitments to a larger budget for the assistant coaches, the administration roles (analyst and recruiting staff), and facility upgrades, although this has yet to be confirmed.
Stay with BSD as we learn more about Franklin’s new deal.