When the initial terms of James Franklin’s buyout were released, it seemed likely that more negotiations were still to come.
Penn State fired Franklin on October 12th and it was reported that the school owed him about $49 million. While that may sound like a lot, his contract contained offset language on future coaching and even media opportunities, as well as a requirement that he prove he was seeking new employment.
Well, that apparently didn’t last very long. In what will likely become a trend in coaching buyouts, James Franklin reportedly took a far lower amount to presumably wash his hands completely of Happy Valley.
As originally reported by Jon Sauber in the Centre Daily Times, “Penn State negotiated a settlement for his buyout in recent weeks, giving Franklin roughly $9 million.”
yeah, early stages of talks pic.twitter.com/iad9t8MXDm
While not confirmed, it would be surprising if Franklin still has any offset obligations to Penn State. If so, the amount, if any, would likely be negligible with the head coach expected to receive a sizable contract from Virginia Tech.
This reduced buyout report was also confirmed by Brandon Marcello of CBS Sports, who added, “The lack of an $8 million to $9 million line item in the annual budget for the next six years frees up money to be invested in a new coach, staff and revenue sharing for players.”
It seems like a night-and-day comparison between how Franklin and Penn State handled their business as opposed to LSU and Brian Kelly. While Franklin and Penn State swiftly negotiated a settlement that allowed both sides to move on, LSU and Kelly appear headed in the opposite direction. Their dispute, which centers on what LSU claims were “improper benefits” may be headed to court to resolve their differences.
In an era where massive contracts and even larger buyouts dominate the sport, Franklin’s decision to walk away with a negotiated lump sum stands in sharp contrast to the increasingly contentious path unfolding in Baton Rouge.
Expect more information to be revealed Franklin is officially introduced at a press conference at 10 a.m. ET on Wednesday, November 19, at Carilion Clinic Court at Cassell Coliseum.
Brian Schaible is a freelance writer with The Sporting News. He is an award-winning journalist with over 25 years of experience covering college and professional sports. Brian holds a master’s degree in journalism/public relations from Kent State University.