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Penn State has approved a new contract for football coach James Franklin that will average $5.73 million per year for six years, sources confirmed to ESPN on Friday.
Franklin was scheduled to make $4.7 million this year under his previous deal. The new contract places Franklin among the five highest-paid coaches in college football along with Alabama's Nick Saban, Michigan's Jim Harbaugh, Ohio State's Urban Meyer and Florida State's Jimbo Fisher. Franklin's deal will total $34.3 million over its six years.