Penn State signed football coach James Franklin to a 6-year contract extension worth a guaranteed $35.4 million, while the university received more protection with larger buyout terms.


Penn State announced terms Wednesday, more than two months after agreeing to the extension following the 2019 season. The contract’s average annual salary of $5.9 million represents about a $600,000 per-year raise over the last deal Franklin signed in 2017.


In addition, bonuses and incentives could raise Franklin’s total compensation by $8.8 million over the contract, which expires in 2025. From Penn State’s perspective, the new buyout terms are more significant, particularly in the contract’s first years.


Franklin owes Penn State $5 million if he leaves for an NFL or college coaching job this season. That buyout drops by $1 million per year until 2025, when there is no buyout number.