The Penn State Board of Trustees’ Committee on Compensation unanimously approved an extension of head football coach James Franklin’s contract during a special off-cycle meeting on Friday afternoon.

According to a release from Penn State, Franklin’s new extension will run through the 2025 season. The basic terms of the deal will be released upon “execution of the agreement in the near future.”

“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 the 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.”

Franklin’s current contract was set to expire in 2022 after he received an extension through that year in 2017. That extension bumped his salary up to $5.3 million per season along with an assortment of bonuses for retention and performance. The head coach initially signed a six-year contract with an average annual value of $4.5 million when he took the Penn State job in 2014, and this season would’ve been the final one of his first contract if he didn’t sign any extensions. Franklin is already due nearly $35 million based on the last contract extension he signed.

In six years as Penn State’s head coach, Franklin has led the Nittany Lions to a 55-23 record and two New Year’s Six bowl appearances. Penn State won the Big Ten championship and appeared in the Rose Bowl following the 2016 season before winning the Fiesta Bowl to cap off an 11-win 2017 season. The team fell just short of a New Year’s Six bowl last year, but it has an excellent chance to play in one of the Rose, Cotton, or Orange Bowls following a 10-2 regular season record in 2019.

We’ll update this post with more information as it becomes available.