Franklin of Pennsylvania agrees to a $75 million 10-year extension
State College, Pennsylvania. Penn State football coach James Franklin approved a new 10-year contract Tuesday that will secure him at least $75 million through 2031.
Franklin and Ben State’s board of trustees agreed to the terms, which include a $7 million annual base salary, $500,000 annual retention bonuses, and a $1 million annual life insurance loan.
Franklin is 67-32 at Penn State with seven games in the bowl in his eight seasons. Nittany Lions won the Big Ten Championship in 2016.
The Pennsylvania native called Penn State’s gig “the dream job” when he was hired away from Vanderbilt in 2014, and will coach his 100th Pennsylvania State game when the Nittany Lions visit Michigan’s No. 12 on Saturday.
Franklin previously signed a six-year deal in 2019. The terms of that contract would see him earn $5.75 million the next season with an increase of $250,000 for each remaining year.
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