The details of James Franklin’s contract with Virginia Tech were released by the school on Friday.
Franklin, who was named head coach of Hokies on Monday after being fired by the Nittany Lions in October, signed a five-year contract worth $41.75 million with Virginia Tech, coming out to an average of $8.2 million per year, per a terms sheet from the school.
With the deal being fully guaranteed, Franklin is expected to make $12.75 million in year four and $13.25 million in year five.
Penn State was originally on the hook for $49 million before the two parties negotiated the buyout amount down to just $9 million.
Virginia Tech also agreed to raise the salary for Franklin’s assistants to $15.5 million, a $7 million increase compared to former coach Brent Pry’s staff this season.
Pry previously served under Franklin as defensive coordinator at Vanderbilt and Penn State before he was hired by Virginia Tech in 2022.
He was ultimately fired by the school in September.
Upon signing the deal with Virginia Tech, Franklin expressed his excitement to take over and “build something that lasts.”
“I’m honored and humbled to join the Hokie family,” Franklin said in the statement. “My vision is simple: to restore unmatched excellence, to build something that lasts, and to serve this University, the Commonwealth of Virginia and our amazing fan base with honor, integrity, and passion.
“I look forward to getting to work with our players, our staff, and the entire Virginia Tech community.”
During his previous coaching stints at Penn State and Vanderbilt, Franklin had a 128-60 record over 15 seasons.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
