Details of James Franklin's lucrative contract extension at Penn State released
The USC job didn’t even have to come open for James Franklin to be rumored as a candidate to replace Clay Helton. In addition to that rumor, there was speculation this offseason that Florida State tried to lure Franklin away from Penn State, but in the end, the Nittany Lion coach landed a lucrative contract extension to stay with the program.
Now we know what that contract extension actually cost Penn State.
Franklin is scheduled to make $35.4 million through 2025, according to the details of his new contract at Penn State, which were obtained by TribLive. The coach is set to make $5.9 million in base pay for the 2020 season after Penn State paid Franklin $5.65 million last season.
He is set to make $6 million for the 2021 season and now has retention clauses for $300,000 for 2021 and $500,000 for each of the remaining five years should he stay at Penn State for the length of his contract.
The new contract doesn’t just give Franklin more money, it also projects Penn State in the event the coach leaves for another job. Franklin would owe Penn State $5 million if he left for an NFL or college job this year. That figure declines by $1 million annually.
Franklin has been at Penn State for six seasons and has a 56-23 overall record with the program. Before coming to Penn State, Franklin led Vanderbilt to the best three-year run in modern history, as the Commodores went 24-15 from 2011-2013.