Revisiting James Franklin's Penn State contract, buyout

With Monday night’s news of USC firing Clay Helton, James Franklin will again be a heavily featured name in the coaching search. His name was linked to the job back in 2019 when it was thought the Trojans would fire Helton after an 8-5 season.

But now USC has officially parted ways with Helton. And the Trojans are launching a national search for his successor.

The Penn State coach appears to be one of the top candidates for the opening, along with Iowa State coach Matt Campbell, Cincinnati coach Luke Fickell and Minnesota’s P.J. Fleck.

Contract breakdown

The Nittany Lions signed Franklin to a six-year contract extensions following the 2019 season. The deal calls for Franklin to make $5.5 million this season and then raised $250,000 each proceeding year through 2025, averaging out to $5.9 million a year in guaranteed annual compensation.

But Franklin’s buyout is just $4 million this year, decreasing by $1 million each year until 2025, when there is no buyout. For example, Alabama coach Nick Saban and Dabo Swinney each currently have buyouts over $20 million. And USC is expected to pay Helton $10 million for the remaining two years on his contract.

Included alongside Franklin’s guaranteed annual pay are his bonuses. These include a retention bonus, paying Franklin $500,000 this year and every year on the remainder of his contract if he is kept as Penn State’s coach.

Additionally, Franklin’s performance bonuses include $800,000 for winning the national championship, $350,000 for winning a Big Ten championship, $100,000 for being named Big Ten Coach of the Year and $150,000 for National Coach of the Year, among other things.

Looking at James Franklin as USC candidate

Franklin is in his eighth season at Penn State and holds a 62-28 record in his time there. He won the Big Ten title in 2016 and has been to one Rose Bowl, where the Nittany Lions fell to USC 52-49. They won the Cotton Bowl in 2019, too.

The Penn State coach has helped rebuild the program, bringing in such players as running back Saquon Barkley and quarterback Trace McSorley.

Franklin built a name for himself in three seasons at Vanderbilt, going 24-15 overall and 11-13 in the SEC, while winning two bowl games, nearly unheard of at the school.

For more coverage from our team of USC Insiders at WeAreSC CLICK HERE