James Franklin's new contract with Virginia Tech will benefit the ex Penn State He will coach at least $41.75 million over the next five years, according to a term sheet released by the school Friday, but the contract details also hint at a new world of revenue sharing.
Franklin's deal, which runs through 2030, is largely on hold, with Virginia Tech receiving $6 million for the 2026 season and up to $13.25 million for 2030.
But Franklin has perks, including bonuses of up to $800,000 a year based on Virginia Tech's television viewership. This is consistent with the ACC's new revenue sharing model, which rewards schools with a larger share of the financial pie based on television ratings.
Virginia Tech, which in September approved a $229 million increase to the overall athletics budget over the next four years.allocated $9.5 million for Franklin's assistant staff and another $6 million for additional personnel, including data analysts, recruiting and quality control staff, sports scientists and other positions.
Franklin will also receive more money for support staff based on Virginia Tech's number of game wins, ranging from a $200,000 raise for assistants and $125,000 for additional staff for winning six games to $800,000 and $575,000, respectively, for a 12-win season.
Franklin also said he expects significant facility upgrades and other investments that will bring Virginia Tech into line with the top programs in the country.
“I'm going to walk through the facility and make it clear that these things are good and top-notch and these things are outdated and problematic and we need to fix them quickly,” Franklin told ESPN. “There is work that needs to be done. But there are also promises that have been made. That's all.”
The contract also includes bonuses based on ACC championship game appearances and College Football Playoff performances.
