$49 million buyout! That’s just insane and the example of what is wrong with college athletics. Who is paying for that???
PSU Franklin
- Thread starter HALL85
- Start date
Crazy. We should all be so fortunate to get that kind of compensation for getting fired.
College sports is such a lucrative business that now the common fan is being asked to chip in whatever they can afford to pay for the best players and coaches. No thanks. I work a modest job while raising a 4, 2, and 1 year old. The next time I have two nickels to rub together, I’d rather it go towards a vasectomy.
College sports is such a lucrative business that now the common fan is being asked to chip in whatever they can afford to pay for the best players and coaches. No thanks. I work a modest job while raising a 4, 2, and 1 year old. The next time I have two nickels to rub together, I’d rather it go towards a vasectomy.
2027 5-star RB Kemon Spell decommits from Penn State
2027 5-star RB Kemon Spell decommits from Penn State
McKeesport (Pa.) MAHS five-star running back Kemon Spell has decommitted from the Penn State Nittany Lions.
In reality, Penn State will be on the hook for something more like $20 million. The buyout language has a duty to mitigate in it, which mandates that Franklin look for another job, for which he will (still) be in high demand. His salary will be deducted from the buyout total, so even at a relatively low $5 million per year, over the length of a typical contract, that will greatly diminish the figure the Nitty Kitties are obligated to pay him. Still an obscene amount, but not as unimaginable as $48.6 million.
James Franklin’s $49 million buyout causes Penn State campus uproar: ‘Slap in the face’
James Franklin’s $49 million buyout causes Penn State campus uproar: ‘Slap in the face’
Some employees at Penn State believe the university has shown its true colors by paying James Franklin $49 million not to coach the football team.
nypost.com
The whole thing is obscene. Our values are so F'd up to pay a sports coach this much money and what we pay to University Presidents as well. And nothing ever changes, just keeps getting worse.
it's same reason. franklin starting to plummet the brand and recruits are leaving. they don't even have anyone better lined up
And the other part of it is how AD’s, Presidents and boards of trustees hand out extensions like candy. Was there really a need for PSU to extend the guy for 10 years (!!!) in 2021?
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Is there a confirmed duty to mitigate clause? I couldn't find the contract online, only the financial term sheet. There was no mitigation offset in Jimbo Fisher's TAMU contract so they're still on the hook for 2031.
Ironically enough the Fisher example is probably the best-case scenario for PSU. TAMU agreed to eat 77M to fire Jimbo who actually won a title elsewhere and hired Mike Elko and he's got the Aggies at #4 in the latest AP poll.
I remember around the time of Jimbo Fisher's firing at Texas A&M, The Athletic did a piece regarding the skyrocketing salaries and subsequent buyouts of college coaches. I went back to find it as I thought it was pertinent.
The upshot was if you think you have the right guy, you want to lock him in because he has all the leverage. While it's expensive to do so, it's more expensive if you lose.
Keep in mind that Franklin was extended after USC made overtures. USC eventually was able to lure Lincoln Riley from Oklahoma and LSU poached Brian Kelly from Notre Dame. Imagine the coaches at Oklahoma and Notre Dame moved on because they saw a better opportunity (more $$$$) elsewhere.
Here's the link if anyone is interested in revisiting.
www.nytimes.com
The upshot was if you think you have the right guy, you want to lock him in because he has all the leverage. While it's expensive to do so, it's more expensive if you lose.
Keep in mind that Franklin was extended after USC made overtures. USC eventually was able to lure Lincoln Riley from Oklahoma and LSU poached Brian Kelly from Notre Dame. Imagine the coaches at Oklahoma and Notre Dame moved on because they saw a better opportunity (more $$$$) elsewhere.
Here's the link if anyone is interested in revisiting.
Amid a ‘25-year bull market,’ college football coaches continue to cash in
Why are contracts so favorable for college football head coaches? ‘You can’t afford to lose’
www.nytimes.com
Good find. I was going to say that one of the On3 writers had reported it -- one of the real college football writers, like Andy Staples or Ari Wasserman, so it was credible.
Was Adidas really behind the $49 million firing of James Franklin? Penn State tells its side
Was Adidas really behind the $49 million firing of James Franklin? Penn State tells its side
Somewhere within the fallout of James Franklin’s firing Sunday, a rumor spread that an apparel giant was behind Penn State’s decision to part ways with the football coach.
nypost.com