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Penn State on Monday announced a five-year contract extension for athletic director Patrick Kraft that will keep him with the Nittany Lions through 2032. Penn State football coach James Franklin called the decision a positive strategic move.
"I think it's really good for the university," Frankllin said Monday at his weekly press conference. "I think it's really good for the athletic department. I think it's the right thing to do strategically for Penn State moving forward, so I am very, very happy about it."
Kraft signed the five-year extension after initially signing a five-year deal in 2022. The new deal will pay him an average guaranteed salary of $2.26 million over eight years, about $1 million more than the average of his firs contract. Kraft can earn up to $350,000 in performance-based incentives annually.
Franklin and Kraft have developed a strong working relationship over the past two years. Kraft in particular has been vocal in making Penn State's case on issues such as starting Big Ten seasons on the road and White Out scheduling. Franklin has praised Kraft for his advocacy on the program's behalf. He also cited the stability of having an athletic director in place for at least another eight years. Kraft is in his third year at Penn State.
Board Approves New Contract For Patrick Kraft
— Penn State Athletics (@GoPSUsports) August 26, 2024
“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. Penn State is a remarkable place, made so by its incredible… pic.twitter.com/Yh9VbSGP4X
"I think stability in college athletics and college football has a chance to be differentiator like probably never before," Franklin said. "... I think it's always been differentiator if you look at certain programs across the country. Now, I think it's magnified more with the amount of turnover that you see. So I think that's really important.
"[Kraft] knows Penn State. He understands college athletics obviously and the changes that we're
under right now. That stability at the lead position in our athletic department is critical, so I think it was strategically the right thing to do. We had an [Intercollegiate Athletics] department meeting this morning and he announced it there. I know a lot of coaches and people are very, very happy about it.
"I think the biggest thing is we got a man leading the department that is a competitor. I'm talking about a fierce competitor in everything he does. That's important. You have heard me say before about the importance of having people in — I hate using this expression — but having somebody in the foxhole with you. Whether that is women's soccer or whether that's fencing or whether that's college football and wrestling, that's important to have somebody that can relate and understand the challenges and wants to come up with solutions.
"One of the things that's stood out to me is Pat and Vinnie's [Vinne James, deputy AD for internal operations] ability to find solutions for problems or challenges we've had for a number of years. Then I think the other thing is even bringing some ideas to the coaches in the department without the coaches having to come up with those ideas."
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