Franklin secures a 5-year, $41.75M+ agreement with Hokies

James Franklin’s recent agreement with Virginia Tech will provide the ex-Penn State coach a minimum of $41.75 million over the upcoming five years, as stated in a term sheet made public by the university on Friday, but the specifics of the agreement also indicate a shift towards a new paradigm of revenue distribution.

Franklin’s contract, which extends until 2030, is primarily backloaded, with Virginia Tech responsible for $6 million for the 2026 season and potentially up to $13.25 million by 2030.

approved an augmentation to its overall athletics budget of $229 million for the ensuing four years in September, allocated $9.5 million for Franklin’s assistant coaches, and another $6 million for additional personnel, which includes data analysts, recruiting and quality control staff, as well as sports scientists, among other positions.

Franklin will also receive increased funding for support personnel based on the number of victories Virginia Tech achieves, with a $200,000 boost for assistants and $125,000 for extra staff for winning six games, scaling up to $800,000 and $575,000 respectively for a 12-win season.

Franklin also mentioned his anticipation for substantial facility improvements and other investments to elevate Virginia Tech to the standards of elite programs nationwide.

«I plan to walk through the facilities and clearly identify that, these aspects are modern and top-tier, while these parts are outdated and need urgent attention,» Franklin conveyed to ESPN. «There are tasks that require completion. But there are also commitments that have been made. That encompasses everything.»

The agreement additionally features incentives tied to ACC championship game and playoff participation.