An interesting new report claims Penn State has a unique reason to root for fired head coach James Franklin’s next job to be at a major program. Even if it was one in the Big Ten at Michigan.
On Sunday afternoon, a second straight upset loss to an unranked team was the final straw for Penn State administrators, and the university took the bold step of firing head coach James Franklin after 12 seasons in State College. Despite a playoff birth and 13 wins last year, the pressure was on the 53-year-old to finally take the next step and move the Nittany Lions into title contention. He came nowhere close.
While his ouster wasn’t completely shocking after a 3-3 start, the decision is costly to the university’s coffers. Every major coach in college football has a massive buyout clause in their contracts if fired. And Franklin’s is one of the biggest because he will now make $49 million to go home for the rest of the fall and winter.
However, a new report from Front Office Sports reveals Penn State knows what it is doing, and a unique note in his contract means it could avoid paying a large chunk of that buyout if he lands a major job soon.
James Franklin’s buyout will be offset by salary at next job
FOS actually obtained a copy of the extension James Franklin signed with Penn State four years ago, and it features a unique detail regarding his buyout.
“Should Coach obtain such applicable employment prior to the date this Contract would otherwise have expired, the University’s obligation to make payments to Coach … will be offset by the total compensation earned by Coach from such applicable new position through the end of the otherwise unexpired term of this agreement.”
Franklin’s contract extension with the university lasts until 2031. So if he was done with coaching after his experience with the Nittany Lions and called it a career, the school would be on the hook for the totality of his buyout. But that is extremely unlikely.
So based on the terms of his deal with the school, if he is hired by another school, whatever the total amount of his deal — for example $30 million — that amount will be sliced off the Penn State buyout, and they will just have to pay the remaining money.
Penn State needs James Franklin to land a major job
This interesting clause in Franklin’s contract pretty much means the school would benefit greatly if their former coach gets a job with a major program. Because that school will surely give him a big contract, since he has a good resume as a coach, and PSU will have to pay less of that buyout.
It is possible the head coach job at schools like Florida, Clemson, and Michigan — if they lose a couple more games — could be available later this year. While the school would love to see Franklin take his talents down south or out west, they probably would not be too bothered by him staying in the Big Ten if he gets a big contract from the Wolverines, if they move on from Sherrone Moore after this season.
