Penn State Extends Athletic Director Pat Kraft’s Contract Through 2032

Penn State Vice President for Intercollegiate Athletic Pat Kraft has a new deal just three years into his tenure with the university. The school’s Board of Trustees on Monday agreed to extend Kraft’s contract through June 30, 2032.

Kraft, who took over for Sandy Barbour as athletic director in 2022, is set to make an average of $2.26 million annually in guaranteed compensation over the eight years, with the opportunity for an additional performance-based bonus of up to $350,000 per year. His original contract paid a base salary of $750,000, with additional compensation of up to $500,000 in the first year and annual incentives of $250,000.

“I am deeply thankful to President (Neeli) Bendapudi and the Board of Trustees for their unwavering support of our intercollegiate athletics program and our leadership team,” Kraft said in a statement. “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. Betsy, our children, and I feel truly blessed to be a part of the Penn State and State College communities, and we cannot wait for what lies ahead.”

Kraft joined Penn State after a three-year stint at Boston College, and made an impact almost immediately. Over the 2022-2023 school year — Kraft’s first on the job — he led Penn State to its highest Learfield Directors’ Cup finish in four years, ranking No. 15. Penn State finished No. 23 in 2023-24.

He has also secured over $1 billion of guaranteed revenue over the next decade for the school’s athletic department and “experienced record-breaking ticket sales,” according to the university.

Perhaps most notably, Kraft has led the charge on Penn State’s $700-million renovation of Beaver Stadium. The reconstruction, which has been in the works this offseason, is set to be completed prior to the 2027 football season. Kraft recently secured two gifts of $25 million and $10 million toward the renovation.

“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,” Bendapudi said. “This new contract will help ensure Penn State continues to benefit from Pat’s leadership for years to come.”