James Franklin’s new Penn State contract is loaded with sweet incentives

The details of James Franklin’s new Penn State Nittany Lions contract have been revealed, including a bump in pay and plenty of incredible incentives.

James Franklin has a pretty sweet deal to coach the Penn State Nittany Lions.

Back in December, it was announced that he received a new six-year contract with the university, but the details were not disclosed until now. ESPN’s Adam Rittenberg reports Franklin will receive up to $32.8 million in salary through the 2025 season, as well as plenty of great incentives to go along with it.

Franklin is to make $5.4 million in base salary in 2020. That will go up to $5.5 million in 2021 and an additional $250,000 annually for the final four years of his deal. Franklin will land a $300,000 retention bonus on Dec. 31, 2020 and an additional $500,000 annually on that anniversary for the rest of the contract. Penn State will also contribute $1 million each year to a life insurance policy.

And it’s not just the retention bonuses, the annual pay grade escalation or the life insurance loan that makes this deal so sweet. Just look at what he’ll get for winning big games at a college football blue-blood.

If he wins the Big Ten Championship again, he’ll net $350,000. Should he lead Penn State to the College Football Playoff for the first time, Franklin pockets an additional $400,000. And if he wins a national title, that’ll be another $800,000 into Franklin’s bank account. Add in 50 hours of yearly private jet time and a $10,000 annual car allowance and Franklin is living the good life.

As it is with any Power 5 coach having the details of his new contract being revealed, people will question if a guy is worth that amount of coin. As always, you’re worth what someone is willing to pay you. Even though Penn State has never made the College Football Playoff since Franklin arrived in State College, he is one of the best coaches in the Big Ten and should be paid as such.

Penn State may not be the best team in its own division, but this is what you’ll have to pay a top-tier head coach to keep pace with the juggernaut that is the Ohio State Buckeyes. The Nittany Lions consistently win 10 regular-season games annually under Franklin’s watch. All it takes is a few lucky bounces and a team like Penn State can play for and win a national title.

The big key here is providing Franklin with some long-term financial stability and plenty of incentives so he doesn’t leave Happy Valley before his 50th birthday. Franklin is 48-years-old and would have to pay Penn State $5 million if he were to leave for another college job or the NFL. The buyout decreases $1 million and he won’t owe Penn State a thing if he were to leave in 2025.

For a Power 5 coach who hasn’t led his program to the playoff, this is as good as it gets. Not making it to a final four isn’t a perceived slight on Franklin, but he’ll have to get Penn State into the dance one of these days. He may have massively overachieved at Vanderbilt, but Franklin came to Penn State to make the Nittany Lions champions again. He’s been paid, now it’s time to win big.

For more NCAA football news, analysis, opinion and unique coverage by FanSided, including Heisman Trophy and College Football Playoff rankings, be sure to bookmark these pages.