Penn State’s Board of Trustees has approved a contract extension for Vice President for Intercollegiate Athletics Pat Kraft through 2032, Penn State Athletics announced Monday. The contract, approved by the Committee on Equity and Human Resources, passed unanimously.

Kraft’s annual average guaranteed compensation over eight years is $2.26 million with the opportunity for additional performance-based bonuses of up to $350,000.

“Pat is an extraordinary leader who brings valuable insight and strategic direction to Athletics and the University, with a focus on both athletic and academic success for Penn State’s more than 800 student-athletes,” Penn State President Neeli Bendapudi said in a release. “This new contract will help ensure Penn State continues to benefit from Pat’s leadership for years to come.”

Kraft came to Penn State from Boston College in July 2022. During his two years at the helm, Penn State finished No. 15 and No. 23 in the Learfield Directors’ Cup. Penn State’s student-athletics have also recorded a 93% NCAA Graduation Success Rate, including 12 programs with 100% ratings.

“I am deeply thankful to President Bendapudi and the Board of Trustees for their unwavering support of our intercollegiate athletics program and our leadership team,” Kraft said. “Penn State is a remarkable place, made so by its incredible people – our talented student-athletes, dedicated coaches and staff, passionate supporters, and engaged community members. I am excited for us all to continue working together to elevate Penn State Athletics and the University as a whole. Betsy, our children, and I feel truly blessed to be a part of the Penn State and State College communities, and we cannot wait for what lies ahead.”