Penn State, Franklin ink 10-year extension

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James Franklin isn't going anywhere.

Penn State agreed to a 10-year extension with the head coach Tuesday, the school announced.

The deal will pay Franklin $8.5 million per year, according to Stewart Mandel of The Athletic.

Franklin's buyout if he leaves this year is reportedly set at $12 million, per Mandel. It drops to $8 million and $6 million in 2022 and 2023, respectively.

"Penn State's future is bright, and I'm honored to continue to serve as your head football coach," said Franklin, who's now signed through 2031. "Nine weeks ago, the administration approached me about making a long-term investment in our football program. This prompted numerous conversations outlining the resources needed to be competitive at a level that matches the expectations and history of Penn State.

" ... This renewed commitment to our student-athletes, community, and fans reinforces all the reasons I've been proud to serve as your head football coach for the last eight years and why my commitment to Penn State remains steadfast."

Franklin is in his eighth season at Penn State, posting a 67-32 record overall with the team. However, he's only 11-9 dating back to last season.

The 49-year-old was rumored to be a potential candidate for multiple college programs looking for a new head coach, including LSU and USC.

Franklin previously went 24-15 at Vanderbilt from 2011-13.

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Penn State, Franklin ink 10-year extension
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