Penn State’s Board of Trustees officially approved Monday morning the contract for Matt Campbell to become the next Nittany Lions head football coach.
In a separate university release, the terms of his contract were made public.
Campbell’s deal is for a base of eight years (through 2033) with $70.5 million guaranteed.
His first-year base compensation is $8 million, with increases of $250,000 in 2027, 2028, 2029 and 2031.
Campbell also earns a $1 million retention bonus each year of the contract.
Additionally, there are escalators attached to the contract for College Football Playoff contention. Campbell will receive an automatic extension and raise of no less than $500,000 if Penn State makes the postseason.
If the Nittany Lions were to win a national championship, Campbell would also earn an automatic one-year extension with a raise of no less than $1 million.
If Penn State fires Campbell, the university will owe him 100% of the guarantee compensation remaining on the contract. However, that is subject to mitigation from Campbell (i.e. him taking another job).
If Campbell leaves on his own terms, he’ll owe the university an amount that scales with his time in State College. His liquidated damages would be $10 million after 2026, decreasing by $2 million each year through 2030 and finally steadying at $1 million for 2031, 2032 and 2033.
Penn State will pay $2 million to Iowa State in a buyout to bring Campbell to Happy Valley.
Notably, but with details unreleased, Penn State’s contract terms specify a binding agreement for Campbell’s staff salary pool and player compensation. A report from Matt Fortuna on Friday night said Penn State would commit $30 million in NIL for the roster and $17 million for assistant staffers.
Campbell’s contract also includes 55 hours of private jet service for personal use and two vehicles during the term of the agreement.
Finally, there are a number of results-based incentives built into the contract. Here’s what Campbell has to do to earn some extra dough:
- Win national coach of the year: $150,000
- Win Big Ten coach of the year: $100,000
- Win Big Ten Championship Game: $350,000
- Big Ten Championship Game appearance: $250,000
- Win CFP Championship: $1 million
- Appear in CFP Championship: $800,000
- Appear in CFP semifinal: $500,000
- Appear in CFP quarterfinal: $400,000
- Appear in CFP first round: $300,000
- Non-CFP bowl game appearance: $200,000
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