Penn State has agreed to pay James Franklin a $49 million buyout for his coaching contract, making it the second‑largest payout in college football history—only behind Texas A&M’s $76 million to Jimbo Fisher.
The money covers Franklin’s remaining salary through the end of his 2025‑26 contract, which includes an $8 million yearly payment that would otherwise have run through 2031.
A clause in Franklin’s deal, signed in November 2021, forces him to actively look for a new coaching, scouting, or broadcasting position once the contract ends. The contract also requires him to aim for the highest reasonable salary at the new job, and it reduces the buyout if he lands a new role before the contract expires.
“Should Coach obtain such applicable employment prior to the date this Contract would otherwise have expired, the University’s obligation to make payments to Coach … will be offset by the total compensation earned by Coach from such applicable new position through the end of the otherwise unexpired term of this agreement,” the contract says. Athletics Director Patrick Kraft confirmed that the athletics department—rather than the university itself—will pay the money.
Franklin, who turned Vanderbilt into a winning program and has kept Penn State in the Big Ten spotlight, is expected to find coaching work quickly. Several high‑profile openings exist, including Arkansas, Oklahoma State, UCLA, Virginia Tech, and Stanford—schools that value his experience in the SEC and Big Ten.
Some former college coaches are moving into media roles instead of returning to the sidelines, citing the pressure of new NIL rules and the desire for less stressful jobs that still pay well. Nick Saban, the famed Alabama coach, said NIL played a role in his decision to step away from coaching.
Penn State’s move shows how universities handle costly contracts. While the debt may feel large, most schools hold enough revenue to cover them, and many will look to avoid similar bills in the future. For Franklin, the two‑year buyout gives him a cushion to negotiate a new job that fits his skills and ambitions. Whether he returns to coaching or shifts to broadcasting, his next role will be widely watched by fans and recruiters alike.
Source: New York Post
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