Penn State athletic director Pat Kraft has secured a contract extension through June 30, 2032, which will average $2.26 million annually over the next eight years, as announced by the university on Monday.
Kraft, who was in his third year of a five-year contract, can earn an additional performance-based bonus of up to $350,000 each year by meeting specific targets, including those related to academic and athletic excellence.
The extension received unanimous approval from the Penn State board of trustees and its equity and human resources committee.
Penn State President Neeli Bendapudi praised Kraft, highlighting his exceptional leadership and strategic vision for both athletic and academic success. She stated that the new contract ensures continued benefit from Kraft’s leadership.
The university, with the help of consulting firm Segal, assessed compensation for Division I athletic directors nationwide to establish a competitive salary.
Kraft, who came to Penn State from Boston College in July 2022, has overseen impressive achievements, including six NCAA individual champions, 19 nationally ranked teams, and a wrestling national championship in 2023-24. During the 2022-23 season, Penn State achieved its highest Learfield Directors’ Cup finish since 2018-19, ranking 15th overall.
He has also established a mental health and wellness department, invested in nutrition, recovery, and travel programs, and achieved a 93% graduation success rate, with 12 programs earning a perfect 100% in the NCAA’s latest report.
Kraft expressed his gratitude to President Bendapudi and the Board of Trustees for their steadfast support and enthusiasm for the future of Penn State Athletics. He conveyed his excitement for the continued collaboration to enhance both the athletics program and the university, expressing his family’s appreciation for being part of the Penn State and State College communities.
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