James Franklin's $49 Million Buyout: A Golden Parachute with Strings Attached
The recent termination of James Franklin's contract as Penn State's head coach has sparked intrigue, especially with the eye-watering $49 million buyout. But here's the twist: Penn State isn't just cutting ties; they're actively encouraging Franklin to find a new job, and soon. This unique clause in his contract has the potential to significantly influence his next career move.
According to Front Office Sports, Franklin's contract stipulates that he must diligently search for a new position and provide evidence of his job hunt. This is a rare requirement, especially considering the substantial buyout amount, which is the second-largest in college football history, second only to Jimbo Fisher's $76 million from Texas A&M.
The contract also states that Franklin should strive for the highest possible salary at his new job, which is tied to an offsetting pay clause. Essentially, the sooner he finds a new role, the less Penn State has to pay. While Penn State's finances are not in question, this clause is a clever way to potentially reduce the hefty bill.
The $49 million figure includes his $8 million annual salary through 2031, plus the remaining amount for the current season. Penn State's athletic director confirmed that the athletics branch will foot the bill, not the university.
But here's where it gets controversial: Is this clause a fair expectation, or does it put unnecessary pressure on Franklin? With the new NIL rules adding stress to the coaching role, many college coaches are transitioning to media jobs. Even Nick Saban, an Alabama legend, cited NIL as a reason for his departure from coaching.
Franklin, a proven coach with SEC and Big Ten experience, should have no shortage of opportunities. High-profile openings at Arkansas, Oklahoma State, UCLA, Virginia Tech, and Stanford could be on his radar. But will he return to coaching, or is a media role more appealing now?
This contract twist adds an intriguing layer to Franklin's future. Will he find a new coaching role to satisfy the terms of his contract, or will he explore other avenues? The world of college football is watching with bated breath. And this is the part most people miss: How will this unique clause shape the future of coaching contracts and the industry as a whole?
