Penn State extends AD Pat Kraft’s contract through 2032
Penn State has approved a new contract for athletic director Pat Kraft. The deal for the leader of the Nittany Lions athletic department will run through 2032. Kraft, who was hired in April of 2022 and started his role in July of that year, previously had a deal that concluded with the 2027 school year.
“The average annual value of guaranteed compensation over eight years is $2.26 million per year with the opportunity for an additional performance-based bonus of up to $350,000 annually based on attainment of specific goals, including for academic and competitive excellence,” Penn State wrote in a news release. “The University worked with leading consulting firm Segal to conduct a nationwide competitive market analysis of NCAA Division I athletics directors’ compensation to determine a competitive compensation level.”
Kraft has many projects on his plate. The upcoming House vs. NCAA settlement will change many things about the college athletics landscape. Among other tasks, he will need to lead the Lions’ transition to an in-house name, image, and likeness effort. He is also overseeing the $700 million Beaver Stadium renovation plan. And, numerous other athletic facilities projects are underway as well. Those include an inflatable practice bubble, Jeffrey Field renovations, and more.
Penn State statements on Pat Kraft’s extension
“I am deeply thankful to President Bendapudi and the Board of Trustees for their unwavering support of our intercollegiate athletics program and our leadership team,” Kraft said in a news release. “Penn State is a remarkable place, made so by its incredible people – our talented student-athletes, dedicated coaches and staff, passionate supporters and engaged community members. I am excited for us all to continue working together to elevate Penn State Athletics and the University as a whole. Betsy, our children, and I feel truly blessed to be a part of the Penn State and State College communities, and we cannot wait for what lies ahead.”
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Added Penn State president Neeli Bendapudi:
“Pat is an extraordinary leader who brings valuable insight and strategic direction to Athletics and the University, with a focus on both athletic and academic success for Penn State’s more than 800 student-athletes. This new contract will help ensure Penn State continues to benefit from Pat’s leadership for years to come.”
PSU Board of Trustees chair Matt Schulyer also weighed in.
“Pat has done an amazing job leading Penn State Athletics, achieving new records in philanthropic gifts while always focusing on enhancing student-athlete well-being. We are thrilled that Pat will continue to lead ICA through the completion of the largest athletic construction project in our history. Under his leadership Penn State Athletics is poised to reach new levels of success and distinction.”
