James Franklin Contract: Penn State Saves Millions After He Takes Virginia Tech Job

Kristen Wong | Nov 17, 2025

Penn State is set to save a lot of money after James Franklin was hired by Virginia Tech this week. / Matthew O'Haren-Imagn Images

A new coaching era has begun for James Franklin, who landed the top job at Virginia Tech after being fired by Penn State earlier this year.

Franklin was dismissed by Penn State following a disappointing 3-3 start to the 2025 season and gets his desired fresh start with the Hokies, where he will replace Brent Pry. Franklin, who spent a decade-plus molding the Nittany Lions' football program, moves on to this third head coaching gig of his career, turning his sights on Virginia Tech as he tries to replicate some of his past success and foster a winning culture. Virginia Tech has only scraped together one 10-win season since 2011, and has plenty to look forward to with Franklin in charge—but they're not the only ones who should be thrilled about the 53-year-old's move.

Penn State stands to save millions in Franklin's buyout after the coach landed his latest gig, based on the reported terms of his old contract with the Nittany Lions. Those terms stated that if Franklin gets a job between now and the year his contract would have expired (2031), the salary he makes from his new job will "offset" what Penn State owes him.

The school previously owed Franklin almost $49 million as part of his buyout. Thanks to Franklin's new job at Virginia Tech, Penn State will now owe Franklin just $9 million off the books, according to The Athletic.

While the details of Franklin's contract with Virginia Tech have yet to be revealed, Penn State is set to save a good chunk of money. They, too, can turn over a new leaf with interim head coach Terry Smith taking over the program in the wake of Franklin's sacking.

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