Long after it was announced that Penn State had agreed to a five-year extension with head football coach James Franklin, we finally learned the terms of that extension.
Franklin will make an average annual salary of $5.9M plus potential bonuses and incentives. That number puts Franklin as the second-highest paid head coach in the Big Ten behind Jim Harbaugh in 2020, though Ryan Day’s salary will rise from $5.3M to $6.5M in 2021.
The new contract also includes a buyout that starts at $5M in the first year, dropping to $1M each subsequent year with no buyout following the 2025 season.
Franklin took the Penn State job in 2014 after the departure of Bill O’Brien. The upcoming season will be his seventh at the helm of the Nittany Lions, making him the university’s fifth-longest tenured head coach.