On Monday, Virginia Tech announced the hiring of James Franklin as the school's next football coach. On Friday, the school announced the terms and details of a five-year deal worth $41.75 million that runs through 2030, which Franklin signed on Monday.
Franklin will make an average of $8.25 million a year, and he will make $12.75 million in year four and $13.25 million in year five of the deal. The contract is fully guaranteed, and adding in the $9 million he's making from his buyout at Penn State, he'll be making over $50 million. Nobody can say that Virginia Tech isn't putting any resources into football anymore.
As for assistant coaches, Virginia Tech clearly committed to Franklin in terms of money. Franklin will get $18.5 million annually for assistant coaches, support staff, and a recruiting budget. There is a $9.5 million budget for assistant coaches, $6 million for support staff, and $3 million for a recruiting budget.
There are also significant incentives in the deal for the number of wins in a season, ACC titles and College Football Playoff appearances, and winning a National Championship. There are also viewership bonuses and Coach of the Year awards annually.
As for buyouts, Franklin will owe Virginia Tech $8 million if he leaves before July 25, 2026, and it decreases over time and the length of the contract. In order to land Franklin, the contract had to be a big one, and it is.
James Franklin hitting the ground running at Virginia Tech
Franklin has already been very busy, just four official days on the job in terms of recruiting. He has lined up dozens of recruits to be in Blacksburg on Saturday for the Hokies' final home game against 13th-ranked Miami in Saturday at Noon.
He has lined up several of his recruits and commits from Penn State to be at Virginia Tech. It's going to be a busy week leading into the early-signing period in a couple of weeks.