James Franklin buyout, contract details if PSU football fires coach
James Franklin and Penn State football and their season have hit a major roadblock.
The No. 6 Nittany Lions let a loss to Oregon bleed over to Week 6, when they struggled against UCLA at the Rose Bowl in Los Angeles. Despite a late comeback attempt, Penn State lost 42-37 to the previously winless Bruins.
While Franklin has enjoyed plenty of success leading the Nittany Lions, fans started chanting ‘Fire Franklin’ inside the Rose Bowl with Penn State trailing 27-7 near halftime against the Bruins.
Here’s what you need to know about Franklin’s buyout and contract, if Penn State decided to move on from the coach:
James Franklin buyout
- Buyout: $50 million
According to a 2022 financial term sheet obtained by the USA TODAY Network, Franklin’s buyout if he were fired without cause is just under $50 million as of Oct. 4.
James Franklin contract details
In addition, according to the contract, his annual compensation is $8.5 million on a deal that runs through Dec. 31, 2031.
The breakout of his pay includes:
- Base salary of $500,000
- Supplemental pay of $6.5 million
- Retention bonus of $500,000 payable each year on Dec. 31.
- Annual loan for life insurance of $1,000,000
