Skip to content

Penn State paid $1.5 million to buy out Franklin’s Vanderbilt contract

James Franklin Getty Images

Penn State was prepared to pay a pretty penny in order to hire their next football coach after Bill O’Brien left for the NFL’s Houston Texans. Not only did the university shell out a nice contract for James Franklin, making him the second highest paid coach in the Big Ten behind Urban Meyer, but the university agreed to pay Vanderbilt $1.5 million to buy out Franklin’s contract.

According to a report by USA Today, Penn State confirmed the buyout price tag Friday night even though the university is not bound by law to disclose such information. In an effort to be more open, a philosophy embraced and acted on with more frequency since the dark days of November 2011, Penn State confirmed the buyout price to USA Today when asked to follow up on details seemingly missing from the initial contract details for Franklin.

It was previously reported Penn State will be paying Franklin $1.3 million for a base salary and a total of $4 million for the 2014 season with bonuses and pay increases kicking in every year on his six-year contract.

Penn State previously agreed to pay for a newspaper advertisement on behalf of Franklin, thanking Vanderbilt for the time he spent with the program. It was previously reported that Penn State paid the bill, but Franklin agreed to repay the school once the bill arrived.

Permalink 6 Comments Feed for comments Latest Stories in: Big Ten Conference, Penn State Nittany Lions, Rumor Mill, Southeastern Conference, Top Posts, Vanderbilt Commodores
6 Responses to “Penn State paid $1.5 million to buy out Franklin’s Vanderbilt contract”
  1. woebegong says: Jan 25, 2014 10:19 AM

    Franklin can coach and did a good job at Vanderbilt in what has to be considered one of the tougher SEC schools to be successful at. I am sure he can do a good job at PSU as he is a good recruiter, if he can get the right asst. coaches to help him out. He is a good hire for PSU.

  2. dadawg77 says: Jan 25, 2014 3:53 PM

    So how much money did PSU make in the coaching change?

  3. lbijake says: Jan 25, 2014 4:39 PM

    $1.5 million is not a lot in today’s market. Penn State got a great coach with most of his staff. Vandy also rebounded well with a coaching hire. Good luck to both schools.

  4. normtide says: Jan 25, 2014 7:47 PM

    I commend psu for paying the money to get a good coach, and the coach they wanted. The HC is the program. More b1g schools should follow psu and OSU.

  5. latrobe21 says: Jan 25, 2014 9:15 PM

    Maybe PSU used $1.5 million of the $6.5 million that the Texans paid the school for Bill O’Brien’s contract buyout.

  6. sportsguy3434 says: Jan 26, 2014 12:22 AM

    So they basically paid Franklins buyout and year 1 salary with O’Briens buyout. Not bad

Leave a Reply

You must be logged in to leave a comment. Not a member? Register now!