By Michael Lipinski, Sports Talk Philly Contributor
In a surprise move, Penn State and head football coach James Franklin have reached an agreement on a 10-year contract extension worth a guaranteed $70 million. Franklin, who recently switched agents, had been tied to the openings at LSU and USC in recent weeks. The extension should quell those rumors, especially on the recruiting trail.
— Penn State Athletics (@GoPSUsports) November 23, 2021
Franklin has been at Penn State since 2014 and has led the Nittany Lions six bowl games, including three NY6 bowl appearances, and a Big Ten Championship (2016). He routinely has Penn State in the top ten recruiting classes according to 247Sports. Franklin’s record as a head coach, including his time at Vanderbilt, is 91-48 overall and 5-4 in bowl games.
Franklin’s buyout is set at $12 million through April 1, 2022 and will fall to $8 million for the remainder of 2022. The buyout drops to $6 million for 2023, to $2 million in 2024, and finally to $1 million in 2026 through the remainder of the deal. The Nittany Lions are locked into Franklin until 2024 at the earliest.