Pat Kraft just saved PSU $40 million

I think it's a good landing spot for Franklin. As I did with Pry, I'll root for Tech unless they play PSU or compete for a CFP spot. If he goes 10-2 every couple of years there, he'll get a statue built. I'll be interested to see how he does. This will probably cost us some recruits in the short term. But it lets both sides move forward without hearing about the buyout every time his name comes up. How many assistants will follow him, and when, I wonder. Will we have enough to finish the season?
 
IANit said:
I think it's a good landing spot for Franklin. As I did with Pry, I'll root for Tech unless they play PSU or compete for a CFP spot. If he goes 10-2 every couple of years there, he'll get a statue built. I'll be interested to see how he does. This will probably cost us some recruits in the short term. But it lets both sides move forward without hearing about the buyout every time his name comes up. How many assistants will follow him, and when, I wonder. Will we have enough to finish the season?
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Who would you want to keep from the staff?
 
From CBS Sports..

The $40 million in savings is a substantial development for Penn State, which is still searching for its next coach. The lack of an $8 million to $9 million line item in the annual budget for the next six years frees up money to be invested in a new coach, staff and revenue sharing for players.

Athletics director Pat Kraft hinted in October that Penn State's next coaching contract will look different because of the changing landscape of NIL and revenue sharing. Backed by deep-pocketed boosters and now freed from a historic buyout, the university is positioned as well as anyone to adapt.

"When all these contracts were signed, the use of the money going to rev share and all the other pieces that are involved (were not in place)," Kraft said in October. "You have to process the financials in such a different light.

"And so, quite honestly, when you get into a search and start to have those hard conversations: What do you envision this program? How do you envision the program looking? How do you envision winning a national championship? I mean, the facts are the facts. You've got to recruit at a high level. And now the transfer portal -- you have to be able to recruit in the transfer portal at a high level. So how do you use your resources in the right way, building a roster that can compete for a national championship?"
 
TheNewBoss said:
From CBS Sports..

The $40 million in savings is a substantial development for Penn State, which is still searching for its next coach. The lack of an $8 million to $9 million line item in the annual budget for the next six years frees up money to be invested in a new coach, staff and revenue sharing for players.

Athletics director Pat Kraft hinted in October that Penn State's next coaching contract will look different because of the changing landscape of NIL and revenue sharing. Backed by deep-pocketed boosters and now freed from a historic buyout, the university is positioned as well as anyone to adapt.

"When all these contracts were signed, the use of the money going to rev share and all the other pieces that are involved (were not in place)," Kraft said in October. "You have to process the financials in such a different light.

"And so, quite honestly, when you get into a search and start to have those hard conversations: What do you envision this program? How do you envision the program looking? How do you envision winning a national championship? I mean, the facts are the facts. You've got to recruit at a high level. And now the transfer portal -- you have to be able to recruit in the transfer portal at a high level. So how do you use your resources in the right way, building a roster that can compete for a national championship?"
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Coach pay is going to drop and nil money is going to increase.

The coach isn't the recruiter anymore. The money is the recruiter... or the GM.

LdN
 
Dailybuck777 said:
Kraft didn't save PSU the money. Franklin did by, commendably, wanting to work.
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Lots of articles saying this deal was reached before Franklin was hired by VTech. So yes, he saved money

Franklin probably agreed to an up front, one time payment because he knew another offer was soon to be finalized. Now he gets 9 mil up front plus his signing bonus.

Good for PSU because it eliminates uncertainty and long term obligations. And it probably came from a donor.
 
The Spin Meister said:
Lots of articles saying this deal was reached before Franklin was hired by VTech. So yes, he saved money

Franklin probably agreed to an up front, one time payment because he knew another offer was soon to be finalized. Now he gets 9 mil up front plus his signing bonus.

Good for PSU because it eliminates uncertainty and long term obligations. And it probably came from a donor.
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The additional piece is that without the payout, Franklin may not negotiate up with VT. He may just take lower pay and let PSU make up the difference.

So the settlement works for both parties.

However this is only if we believe Franklin would act in bad faith which, of course, he would.
 
LionDeNittany said:
The additional piece is that without the payout, Franklin may not negotiate up with VT. He may just take lower pay and let PSU make up the difference.

So the settlement works for both parties.

However this is only if we believe Franklin would act in bad faith which, of course, he would.
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So Kraft eliminated that possibility.
 
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