As far as his buyout Franklin's buyout in $2 million in 2017 and just $1 million the remainder of his contract.
Penn State opens the 2017 season against Akron on September 2 in Beaver Stadium.
After narrowly missing out on the 2016 NCAA Playoffs, the Penn State Board of Trustees' Committee on Compensation made a decision to go forward with Franklin for the foreseeable future. At the Big Ten media days last month, Franklin said that negotiations centered more on assistant-coaching salaries and funding for facilities upgrades than on his salary.
A recipient of major criticism from the Penn State faithful, Franklin has turned the tides in Happy Valley.
Franklin is 25-15 (14-11) in three seasons as Penn State's coach.
Franklin has landed top-25 recruiting classes each of the last four seasons, including back-to-back top-20 classes at Penn State. His salary is now in-line with what teams could offer for what would be a first-time National Football League coach. Franklin began his coaching career at Kutztown, spending a year as receivers coach, before becoming a graduate assistant at East Stroudsburg.
As noted above, of the three coaches that will make more money that Franklin two of them will coach in his own division. Franklin has downplayed the public expectations and reminded everyone that past year was just that.
He told PennLive at The Opening that "Franklin signed a new five-year deal so he's going to be there a minute while I'm there", which led to rumors of a new deal for the coach. Franklin loves Penn State and now that he's compensated at or even above his coaching value at this juncture, there's no reason for Penn State fans to worry about replacing a coach who bolted elsewhere for a while.
The Longhorns fired Smith after the season, leaving Texas A&M's Kevin Sumlin ($5 million per year) as the country's top paid black coach entering the offseason. Kickoff is set for noon.