Penn State head football coach James Franklin’s contract was unanimously “amended” by the Penn State Board of Trustees Committee on Equality and Human Resources in a brief public meeting held online on Friday morning.
A change was necessary: Franklin’s current contract — under the incentives section — only accounted for a four-team CFP playoff, plus the four bowl games that were, according to the contract, “a part of the annual College Football Playoff rotation, but not one of the two National Semifinal bowl games played that year.”
The terms of the amendment were not released and there was no discussion before the vote by the committee, which met privately in executive session prior to the public meeting.
“The Committee on Equity and Human Resources voted unanimously to revise the performance incentives section in coach James Franklin’s contract,” a Penn State Athletic Department spokesperson wrote in a statement. “The change accounts for the expanded 12-team College Football Playoff (CFP) format, which beginning this year includes one additional game compared to the previous four-team single-elimination CFP format from 2014 to 2023.”
This marks the first year of the 12-team playoff format. In the current CFP rankings, released Tuesday, Penn State was No. 4. With the College Football Playoffs selections to be announced on Sunday, Dec. 8, time was of the essence for amending the contract.
Four conference champions get a first-round bye. For the Big Ten, that will — most likely — be Oregon or Ohio State, who should have a regular season rematch in the Big Ten title game next Saturday. Penn State is expected to host a first-round CFP game on Friday, Dec. 20 (8 p.m., ABC/ESPN) or Saturday, Dec. 21 at noon (TNT), 4 p.m. (TNT) or 8 p.m. (ABC/ESPN).
Do not rule out a Friday night CFP game in Beaver Stadium: Penn State commencement was shifted to Sunday, and there will be NFL competition on Saturday, Dec. 21: the Pittsburgh Steelers play at Baltimore, in an AFC North division rivalry game, at 4:30 p.m. on FOX.
This issue was on the table for more than two years:
On Sept. 2, 2022, the CFP Board of Managers unanimously voted to expand the current four-team playoff into a 12-team playoff. The new format, consistent with a proposal the board of managers reviewed in the fall and winter of 2021-22, was to begin for the 2026 college football regular season. The board tasked the CFP Management Committee with assessing the possibility of beginning the expanded playoff in either the 2024 or 2025 regular season.
Committee vice-chair Tracy Riegel represented the Penn State Board’s HR committee in its two-minute public session held Friday on Zoom. That possibly might have been because Matt Schuyler, former president of the Board and chair of the committee, recused himself from leading the meeting call. Schuyler was recently hired as the Chief People Officer at Creative Artists Agency, the same global talent agency that represents James Franklin.
Penn State (10-1) concludes its regular season on Saturday against Maryland (4-7 overall, 1-7 in the Big Ten) in Beaver Stadium. Kickoff is at 3:30 p.m.
BOWL INCENTIVES
Prior to Friday’s action by the Board, Franklin’s current contract, signed in November 2021, listed the bowl incentives as:
$800,000 — Win College Football Playoff National Championship Game
$500,000 — Runner-up, CFP National Championship Game
$400,000 — CFP Final Four
$300,000 — Appearance in one of four CFP games, but not one of the semifinals
$200,000 — Appearance in any other bowl game
FRANKLIN’S CONTRACT
In 2023, Franklin made $9.085 million, counting base salary, bonuses, the use of a private aircraft, a car allowance and the cash availability of a $1 million life insurance policy.
Since he was hired in 2014, Franklin has made over $71.5 million in total earnings and compensation. He has had main contracts/renewals: when he was hired, on Jan. 11, 2014; in August 2017; in December 2019; and in November 2021.
Franklin is represented by CAA super-agent Jimmy Sexton, whose clients include Kirby Smart, Nick Saban, Lane Kiffin and Steve Sarkisian. Franklin changed agents in the summer of 2021, from former NFL player Trace Armstrong to Sexton.
Buyout terms for Franklin, based on his last contract made public: Were Penn State to fire Franklin without cause on or after Jan. 1, 2025, it would owe him $48 million; if Franklin were to leave on or after date in 2025, he would owe Penn State $2 million. Franklin’s contract runs through the 2030 season.
Other incentives for Franklin, based on his last contract made public: appearance in Big Ten Championship Game ($250,000); win Big Ten title game ($350,000); Big Ten Coach of the Year ($100,00); and retention bonus, payable on Dec. 31, 2024 ($500,000).
CAA TIES
Creative Artists Agency had an industry-high 12 clients selected in the first round of the 2024 NFL Draft, including two Penn Staters — offensive tackle Olu Fashanu (pick No. 11, N.Y. Jets) and edge rusher Chop Robinson (No. 21, Miami Dolphins).
In October, Schuyler was named Chief People Officer for CAA, one of the top three entertainment and sports agencies internationally. CAA has 20 offices and 3,700 employees worldwide. Schuyler previously led global human resources teams at Hilton Worldwide, Capital One, Cisco, and PwC.
Penn State quarterback Drew Allar has been represented by CAA the past few years. His Twitter/X bio includes the info line: “Business inquiries: [email protected]”
In May 2023, I wrote a column about Allar’s ties to CAA. Back then, Allar said: “…they kind of handle all the NIL stuff for me. That’s really how it goes. It’s definitely a good relationship though. I have an email set up for NIL opportunities and [potential business partners] will send that email or they’ll send an offer or contract through that email and the people at CAA will negotiate back and forth for me. They’ll ask for my input. They’ll give me everything straight up, what their opinion is on the deal or whatever. Ultimately, it’s up to me. So definitely a really good relationship that I have with them.”
