According to a report from Front Office Sports, Penn State might find its off the hook for a large portion of James Franklin’s contract buyout.
At this point in time, Penn State athletics is on the hook for $49.7 million, but the contract obtained by Front Office Sports contains the following language:
“Should Coach obtain such applicable employment prior to the date this Contract would otherwise have expired, the University’s obligation to make payments to Coach … will be offset by the total compensation earned by Coach from such applicable new position through the end of the otherwise unexpired term of this agreement.”
Essentially this means the money he makes from his next job whether it be in media or coaching offsets the buyout Penn State owes Franklin.
Add Nittany Sports Now as a preferred source in Google! Click here to add us.Per more contract language he is required to search for a position and “make a good faith effort to obtain another position appropriate for his skill set (i.e., coaching, scouting and broadcasting only) and to provide the university upon request with evidence that he is seeking such employment.”
To sum it up, Franklin has to search for jobs and whatever money is made offsets his buyout with Penn State. Should another school pay him more than his buyout, it’s possible he will have to pay the university back money they have already given him.
Franklin shouldn’t be out of a job for long which is a blessing in disguise financially for the athletic department.
