Penn State athletic director Patrick Kraft was inked to an eight-year extension that keeps him under contract through June 30, 2032, the university announced Monday.
The deal was approved by Penn State’s Board of Trustees and by the university’s Committee on Equity and Human Resources in a unanimous vote.
Kraft, who holds the title of vice president for intercollegiate athletics, will earn an average of $2.26 million annually over the duration of his contract, with additional yearly potential performance-based bonuses for academic and athletic achievements reaching $350,000.
“Pat is an extraordinary leader who brings valuable insight and strategic direction to athletics and the university, with a focus on both athletic and academic success for Penn State’s more than 800 student-athletes,” Penn State president Neeli Bendapudi said in a statement.
“This new contract will help ensure Penn State continues to benefit from Pat’s leadership for years to come.”
Kraft arrived in Happy Valley in summer 2022 after serving as athletic director at Boston College for three years, beginning in 2020.
Previously, he was athletic director at Temple from 2015-20.
Penn State athletics has received several sizable donations with Kraft leading the department, including gifts of $10 million and $25 million for the university’s Beaver Stadium revitalization project.
Across all athletics, the Nittany Lions have produced six individual NCAA national champions, in addition to the 2023-24 wrestling team, under Kraft.
“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,” Kraft said. “Penn State is a remarkable place, made so by its incredible people — our talented student-athletes, dedicated coaches and staff, passionate supporters and engaged community members. I am excited for us all to continue working together to elevate Penn State athletics and the university as a whole.”
