STATE COLLEGE, Pa. (AP) Penn State football coach James Franklin has signed a contract extension that guarantees him $34.7 million through 2022, putting him third in average annual compensation in the Big Ten.
According to terms released by Penn State on Friday, the deal is worth an average of $5.78 million annually and contains up to $1 million in incentive bonuses each year. The extension modifies the initial six-year contract Franklin signed when he was hired in 2014. That contract was to pay him $4.6 million this year.
After back-to-back 7-6 seasons in Franklin's first two years in Happy Valley, the Nittany Lions won the Big Ten last year. Penn State finished 11-3 and No. 6 in the country after starting 2-2, capping the program's best season in the post-Joe Paterno era with a 52-49 loss to Southern California in the Rose Bowl. Franklin was selected Big Ten coach of the year.