Penn State has scheduled a press conference for 4:15 p.m. Saturday at the Beaver Stadium media room to “make a major announcement.”
It’s likely the university will introduce Vanderbilt coach James Franklin as its 16th head football coach.
The compensation committee of Penn State’s Board of Trustees will consider the new football coach’s contract during a conference call at 9 a.m. Saturday after meeting during an executive session at 8:30 a.m.
The committee consists of trustees Paul Silvis, Karen Peetz, Mark Dambly, Linda Strumpf and Kathleen Casey.
Franklin cannot be officially hired until that committee approves his contract. The Centre Daily Times has reported that it is expected to be a formality.
ESPN reported that Franklin’s contract is expected to be up to $4.5 million a year, which is about $700,000 more than Bill O’Brien made during his second year at Penn State.
If that report is true, Franklin’s salary would rank in the top 10 in the country and second in the Big Ten, right behind the $4.6 million salary of Ohio State’s Urban Meyer.