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Penn St. gives Franklin $34.7M extension

(AP Photo/G-Jun Yam)

STATE COLLEGE, Pa. (AP) Penn State coach James Franklin has signed a contract extension that guarantees him $34.7 million through 2022.

According to terms released by Penn State on Friday, the deal is worth an average of $5.78 million annually and contains up to $1 million in incentive bonuses each year. The extension modifies the initial six-year contract Franklin signed when he was hired in 2014. That contract was to pay him $4.6 million this year.

After back-to-back 7-6 seasons in Franklin's first two years in Happy Valley, the Nittany Lions won the Big Ten last year. Penn State finished 11-3 and No. 6 in the country after starting 2-2, capping the program's best season in the post-Joe Paterno era with a 52-49 loss to Southern California in the Rose Bowl.

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2 Alabama (14-1)
3 USC (10-3)
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5 Oklahoma (11-2)
6 Ohio State (11-2)
7 Penn State (11-3)
8 Florida State (10-3)
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10 Michigan (10-3)
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2 Ohio State (0-0)
3 Florida State (0-0)
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