After being linked to open jobs at Southern Cal and LSU in the coaching rumor mill, Penn State’s James Franklin has agreed to terms on a 10-year contract extension through 2031, the school announced Tuesday.

Franklin will make $7.5 million annually under the new deal. He was already under contract through 2025 having signed a six-year, $38.2 million extension in 2019.

In a press release, Franklin characterized the extension as a “long-term investment in our football program” that would create a framework to improve the program’s “academic support, community outreach, Name, Image and Likeness (NIL), facility improvements, student-athlete housing, technology upgrades, recruiting, training table and more.”

“We have made, and will need to continue to make, significant investment in our football program because we believe we have a very bright future under James,” athletic director Sandy Barbour said in the release.

Since taking the job in 2014, Franklin is 67-32. He will coach his 100th game with the Nittany Lions on Saturday at Michigan State. Franklin led Penn State to the 2016 Big Ten Championship and seven bowl appearances in eight seasons.

Unranked at 7-4 this season after going 4-5 last year, Penn State is 2-13 against top 10 teams and 10-19 against ranked opponents under Franklin.

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