James Franklin's new contract with Virginia Tech will net the former Penn State coach at least $41.75 million over the next five years, according to a term sheet released by the school Friday, but the details of the contract also offer a nod to a new world of revenue distribution.
Franklin's deal, which runs through 2030, is largely backloaded, with Virginia Tech on the hook for $6 million for the 2026 season and up to $13.25 million for 2030.
But there are perks for Franklin, including bonuses of up to $800,000 annually based on Virginia Tech's TV viewership. This dovetails with the ACC's new revenue distribution model that rewards schools with a larger slice of the financial pie based on TV ratings.
Virginia Tech, which approved an increase to its total athletics budget of $229 million over the next four years in September, committed $9.5 million to Franklin's staff of assistants and another $6 million for supplemental staff, including data analysts, recruiting and quality control staff, and sports scientists, among other roles.
Franklin will also get more money for support staff based on the number of games Virginia Tech wins, ranging from a $200,000 increase for assistants and $125,000 for supplemental staff for winning six games to $800,000 and $575,000, respectively, for a 12-win season.
Franklin also said he expects significant facility upgrades and other investments to bring Virginia Tech into line with the top programs in the country.
"I'm going to walk the facility and make it very obvious that, these things are nice and first class, and these things are dated and problematic and we need to get them fixed and fixed fast," Franklin told ESPN. "There's work that needs to be done. But there's also promises that have been made. That's all of it."
The contract also includes bonuses based on ACC championship game and College Football Playoff appearances.