Virginia Tech head football coach James Franklin signed a five-year deal to become the program's new leader, and the school revealed the full details of the contract on Friday.
Franklin's five-year deal is worth $41.75 million, at an average of $8.2 million per year. Franklin is set to make $12.75 million in year four and $13.25 million in year five of the deal. The contract is fully guaranteed, and the former Penn State coach will be earning a total of $50 million if you include the negotiated $9 million buyout from the Nittany Lions.
If the Penn State buyout and the fully guaranteed contract from Virginia Tech are added together, Franklin will make around $10 million per year. The most interesting part of the contract is the staff salaries. The athletic department committed to increasing staff salary for Franklin's assistants to $15.5 million, which represents a $7 million jump compared to Brent Pry's assistant coaching salary pool this season.
In regard to the buyout, Franklin will owe Virginia Tech $8 million if he leaves, but that figure drops to $6 million after next season. Regular season win bonuses and other associated incentives begin at six wins and escalate from there.
The negotiated buyout at Penn State allowed Virginia Tech and Franklin to be flexible with the terms of the contract, with more money dedicated to paying his assistants and various support personnel.
Franklin has already hit the ground running on the recruiting trail—he is hosting dozens of recruits on official visits this weekend as the Hokies play their final home game of the season against Miami.
Kickoff between the Hokies and Hurricanes on Saturday is set for Noon ET.
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This article was originally published on www.si.com as Virginia Tech Reveals Contract Details for Head Coach James Franklin.
