Penn State Amends James Franklin's Contract to Reflect New College Football Playoff

The Nittany Lions coach signed a 10-year contract in 2021, before the College Football Playoff expanded to 12 teams.

Penn State head coach James Franklin greets members of the student section before a Big Ten football game vs. Ohio State. / Dan Rainville / USA TODAY NETWORK via Imagn Images

Penn State football coach James Franklin received a contract update that includes new bonuses reflecting the expanded College Football Playoff. The Penn State Board of Trustees' Committee on Equity and Human Resources approved the contract amendment Friday, just over three years after Franklin agreed to a 10-year deal in 2021. Penn State did not release a new term sheet or details of the incentives update as part of the approval.

"The Committee on Equity and Human Resources voted unanimously to revise the performance incentives section in Coach James Franklin’s contract," a Penn State spokesperson said in a statement. "The change accounts for the expanded 12-team College Football Playoff [CFP] format, which beginning this year includes one additional game compared to the previous four-team single elimination CFP format from 2014-2023."

In 2021, Franklin signed a 10-year deal worth a guaranteed $85 million that included up to $1 million additional annually in performances incentives. Among those incentives:

• $800,000 for winning the CFP championship game

• $500,000 for reaching the title game

• $400,000 for reaching the 4-team College Football Playoff

• $350,000 for winning the Big Ten title game

• $300,000 for reaching a New Year's Six bowl

• $200,000 for reaching another bowl game

Franklin's incentive structure changes with the new 12-team playoff format. If it qualifies for the College Football Playoff, Penn State could play as many as four postseason games, including the national-championship game scheduled for Jan. 20 in Atlanta. Penn State also could host a first-round game in December. Penn State did not release details of the new incentive structure.

Franklin, 52, is in his 11th season as Penn State's head coach. He has a career record of 98-40 at Penn State, including a 10-1 record this season. With a win over Maryland on Saturday, Penn State would win 11 regular-season games for the first time under Franklin and the first time since 2008. Penn State also would clinch a berth, and a likely home game, in the College Football Playoff.

James Franklin's Penn State contract history

2021: In November 2021, Franklin signed his largest contract to date, a 10-year, $85 million deal that represented a $1.1 million increase in guaranteed annual compensation over his previous deal. It also $1.5 million in additional guarantees, including a $1 million via a life insurance loan, and up to $1 million annually in bonuses. The deal also featured a 10-percent increase in private-plane usage to 55 hours.

2019: Before playing Memphis in the Cotton Bowl, Penn State and Franklin announced a third six-year deal that ran through the 2025 season. This contract, which ends Dec. 31, guaranteed Franklin $35.4 million, with a peak annual salary of $6.5 million in 2025. The contract further included a total of $2.8 million in annual retention bonuses and another $1 million per year in a life insurance loan. The $1 million in incentive bonuses remained, as did the car allowance and the 50 hours of private-plane use.

2017: After winning the Big Ten title in 2016, Franklin signed his second six-year contract worth a guaranteed $32 million and a peak annual salary of $6.25 million. The contract also included $2.7 million in annual retention bonuses, up to $1 million annually in performances bonuses, a $10,000 annual car allowance and up to 50 hours per year in personal use of a private plane.

2014: Franklin signed a six-year contract that guaranteed him $25.5 million. It began with a $4 million salary in 2014, increasing by $100,000 annually through the 2019 season. It also included $2.25 in annual retention bonuses, paid on Dec. 31 of each year, and up to $1 million in annual performance bonuses. The contract further included a $10,000 annual car allowance and up to 35 hours per year in personal use of a private aircraft.

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