Story by
James Franklin buyout, contract details if Penn State football fires coach
- Story by
- James Franklin buyout, contract details if Penn State 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 .
Advertisement
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 .
REQUIRED READING: Nico Iamaleava becomes 'Mr. Upset,' as UCLA humiliates Penn State
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.
Advertisement
James Franklin contract details
In addition, according to the term sheet, his annual compensation is $8.5 million on a deal that runs through Dec. 31, 2031.
The breakout of his annual 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
Want the best college football coverage? Sign up for our 'Path to Playoff' newsletter .
This article originally appeared on USA TODAY: James Franklin buyout, contract details if Penn State fires coach
