Penn State’s Franklin agrees to $75M, 10-year extension

By TRAVIS JOHNSON
Associated Press

STATE COLLEGE, Pa. (AP) — Penn State football coach James Franklin has agreed to a new 10-year contract that will guarantee him at least $75 million through 2031. Franklin and Penn State’s Board of Trustees agreed to the terms, which include a yearly base salary of $7 million, retention bonuses of $500,000 each year and a $1 million annual loan for life insurance. Franklin is 67-32 at Penn State with seven bowl appearances in his eight seasons. The Nittany Lions won the Big Ten championship in 2016.