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Penn State gives new deal to James Franklin worth $5.73M per season

Related Topics: Jim Harbaugh, Nick Saban

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, who was scheduled to make $4.7 million this year under his previous deal, will become the fourth highest-paid coach in college football behind Michigan's Jim Harbaugh ($9 million), Nick Saban ($6.9 million) and Ohio State's Urban Meyer ($6 million), according to the USA Today coaching salary database.

SI.com earlier reported the terms of Franklin's new deal.

Franklin, 45, led the Nittany Lions to an 11-3 record and the Big Ten championship last year.