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James Franklin has a new contract at Penn State.

The extension, which was unanimously approved on Friday by the school’s Committee on Compensation, will run through the 2025 season. Terms were not immediately disclosed, but a university news release said that they will be released "upon execution of the agreement in the near future, in accordance with past practice.”

Franklin’s previous deal, which was agreed to by both sides in 2017, would have expired in 2022.

“It’s not often a coach gets an opportunity to move back to their home state and coach the team they grew up watching,” Franklin said in a news release. "It’s even more rare that it’s a school as rich in history and tradition as Penn State. It’s been an honor and privilege to be the head coach of the Penn State Football program for the last six years.

“It’s gratifying to work at a university where the administration cares as much about what happens in the classroom and community as it does about wins and losses. I love Penn State, our players and our dedicated coaches and staff. I’m proud to continue this journey with them and grateful that President Barron, Sandy Barbour, and the Board of Trustees share my vision for continuing our pursuit of excellence.”

Franklin’s most-recent contract prior to Friday’s news would have paid him $5.56 million in 2020, $5.95 million in 2021, and $6.25 million in 2022, but all those numbers are expected to rise under the terms of the new contract. It’s also possible that his buyout, which was previously $1 million for the duration of the deal, will go up, too. That would only be paid if Franklin left the school for another job, of course.

It’s unclear when the full terms will be disclosed. The Board of Trustees is currently not scheduled to meet again until February.

Notably, the school’s news release said that Vice President of Intercollegiate Athletics Sandy Barbour “wanted Franklin and the entire football staff to know their efforts are being supported at all levels,” which could imply that the university also agreed to increase funding for staff hires and other objectives the football program wants to accomplish, including facilities upgrades.

“We are thrilled to have James as the head of our football program. We wanted to make a strong pledge to James and this program with this new contract,” Barbour said in a released statement. "James came to Penn State with a very clear vision and we have seen that grow and prosper. What he has done to bring success to our program, both on and off the field, has been nothing short of spectacular. “

James is a true Penn Stater with a commitment to the complete experience for our students by developing them academically, socially and on the field. Even more, he has embraced and been a pillar of the Happy Valley community since his arrival. James has won many games at Penn State and will continue to win many more, but what is more impressive is the number of lives he has impacted in our program and in our community.”

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