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CFB World Reacts To James Franklin Contract News

Penn State football head coach James Franklin looks on during a game.

STATE COLLEGE, PA - OCTOBER 02: Head coach James Franklin of the Penn State Nittany Lions looks on during the second half of the game against the Indiana Hoosiers at Beaver Stadium on October 2, 2021 in State College, Pennsylvania. (Photo by Scott Taetsch/Getty Images)

James Franklin has already led Penn State football for nearly eight seasons. A contract extension that the Nittany Lions head coach officially agreed to this week will now keep him with the program for the next decade.

Penn State announced on Tuesday afternoon that Franklin agreed to a new 10-year deal to remain in Happy Valley for the foreseeable future. The 49-year-old head coach will now be under contract with the Nittany Lions until 2031, giving him plenty of time to build the program into a national championship contender.

"Penn State's future is bright, and I'm honored to continue to serve as your head football coach," Franklin said in an official announcement. "Nine weeks ago, the administration approached me about making a long-term investment in our football program. This prompted numerous conversations outlining the resources needed to be competitive at a level that matches the expectations and history of Penn State. What's most evident from those conversations is the importance of our student-athletes' success both on and off the field."

Franklin will haul in quite the payday over the next decade as a result of of the extension. According

James Franklin's new deal is 10 years at $8.5M per year.

-- $7M salary
-- $500K retention bonus
-- $1M life insurance loan

The school buyout is his full remaining salary + loan.

His buyout if he leaves this year is $12M, $8M next year, $6M in '23.

This is his Jimbo contract.

— Stewart Mandel (@slmandel) November 23, 2021

">to The Athletic's Stewart Mandel, the deal will pay him an annual salary of $7 million for each of the 10 season that's he under contract.

The extension also comes with a sizable buyout.

News of Franklin's extension with Penn State came with quite a bit of fanfare from around the football world on Tuesday. Former Nittany Lions linebacker Micah Parson was among those that congratulated the head coach on his massive new deal.

Other fans and media members around the college football world had mixed feelings on Franklin's extension. With other top programs expressing interest in the 49-year-old head coach, many understand the move from Penn State's perspective.

However, some felt that the new deal was an awfully lot of money to pay a coach that has gone 14-11 in his last 25 games.

Overall at Penn State, Franklin has been much better than his recent record indicates. In his nearly eight seasons at the helm, the Nittany Lions have gone 67-32.

Now that Franklin is locked down long term, Penn State can focus on recruiting and upgrading its facilities so that the program can develop into a perennial contender.