Matt Campbell officially named Penn State’s new football coach. See his contract terms
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New era of Penn State football
Penn State football has its next coach. Read more about Matt Campbell and what he’ll bring to the Nittany Lions.
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The Penn State trustees officially approved hiring Matt Campbell as the next head football coach during a committee meeting Monday morning with an eight year, $78.5 million contract.
The meeting — specifically with the committee on equity and human resources — lasted about four minutes, and the committee did not publicly announce the contract terms during the meeting. Instead, that information was released afterward. Committee Chair Tracy Riegel said the terms were presented to the committee and the full board during an executive session prior to the meeting.
The contract begins on Monday and he will be introduced at a press conference at noon. Campbell’s annual guaranteed compensation (base salary plus supplemental compensation) is as follows:
- 2026: $8 million
- 2027: $8.25 million
- 2028: $8.5 million
- 2029: $9 million
- 2030: $9 million
- 2031: $9.25 million
- 2032: $9.25 million
- 2033: $9.25 million
He’ll receive a $1 million retention bonus per contract year.
The contract also includes an automatic contract extension of one year for making the College Football Playoff, with a salary increase of no less than $500,000. If Penn State wins a national championship, Campbell will get an automatic two-year extension with an increase of no less than $1 million.
If Penn State fires Campbell, the university will owe him 100% of the guaranteed compensation for the rest of the employment contract, subject to the coach’s mitigation. The anticipated buyout terms state the university will pay $2 million to Iowa State.
Penn State will give Campbell a staff salary pool, player compensation, a program review to make sure there are appropriate resources and a head and assistant coach recruiting charter budget, although those numbers were not provided in the term sheet.
Other perks include 55 flight hours per year of private jet service for Campbell’s personal use, and two vehicles provided by the university during the term of the agreement. There are a number of incentive bonuses and academic bonuses, as well.
In a press release, Campbell said he was “incredibly honored” to be Penn State’s next head football coach.
“This is one of the blue bloods of college football, and this program’s history and tradition are unmatched. I look forward to building on that foundation by developing student-athletes on and off the field, competing for championships and continuing the legacy of excellence that defines Penn State.
“I want to thank President Bendapudi and Pat Kraft for their trust and support throughout this process. I also want to express my deep gratitude to Iowa State University, its football program and the entire Cyclone community for the incredible memories and experiences my family and I have shared there. We will always cherish our time in Ames. My family and I are eager to become part of the Penn State community and get to work with the student-athletes, staff and fans who make this place so special.”
Campbell and his wife, Erica, have four children: Katie, Izzy, Rudy and Rocco.
During the meeting, trustee and former PSU football player Matt McGloin applauded the hire and thanked athletic director Pat Kraft for conducting the search with “professionalism and urgency.”
“This is someone that I personally would have loved to have had the opportunity to play for a tough, respected leader who really embodies the values of Penn State, and again, as someone who has worn this uniform and live this program, I’m so confident that we’re moving in the right direction and are united in our future,” he said.
He also thanked Kraft for keeping Terry Smith, who has been the interim head coach since James Franklin was fired.
“Terry is somebody who has really been the heartbeat of this program, a mentor, a connector, and someone who embodies everything that Penn State stands for, and his impact on our players and our community is absolutely immeasurable,” McGloin said. “So again, I think we’d all agree that the future of Penn State football is very, very bright.”
This story was originally published December 8, 2025 at 11:51 AM.
