James Franklin and Virginia Tech have been circling each other for weeks, with clear signals of mutual interest. For their part, Virginia Tech seems to view him as the most logical fit for their next head-coach pivot; for Franklin, his resume and East Coast recruiting footprint make the job appealing. While insiders say a deal could be finalized soon, no official announcements have yet surfaced… and that could just be because the former Penn State head coach is playing the market, keeping his options open for a higher-profile ACC job should it open.

According to Virginia Tech insider Kolby Crawford, “A massive hinge point has been Florida State this whole time.

“It’s almost comical, like, do you see that coming open? You sort of hear mixed reviews. If that were to come open, I think James Franklin would have interest. Now, is Franklin directly talking to those schools? No. But obviously, he’s going to try and see where they’re at and set the market with him if that’s what they’re to do. So, I think that’s really important to see about those other potential jobs or what could be a holdup.” 

From a financial perspective, the Florida State job could easily outshine what James Franklin had at Penn State. His 10-year contract in Happy Valley, signed in 2021, averaged about $8 million annually, including a $1 million life-insurance loan and a $500,000 retention bonus each December, plus incentives that could push his earnings even higher, such as $800,000 for a national title or $350,000 for a Big Ten championship.

That deal also included a massive buyout clause, meaning Penn State would owe him the remainder of his contract if he were fired without cause, effectively guaranteeing long-term security. Still, in today’s market, that once-premium figure has been eclipsed by newer, more aggressive deals. And Florida State sits near the top of that financial hierarchy. 

At Florida State, Mike Norvell’s current contract reportedly averages over $10 million a year (although he himself opted for reductions to help with fundraising and NIL initiatives). The head coach is sitting on a $72.7 million remaining contract through 2031, with an 85% buyout that would still cost the Noles $53.3 million even after this season. That’s a massive financial barrier, but it also speaks of the school’s willingness to spend at a national-championship level. 

For a coach like Franklin, that kind of environment represents both leverage and opportunity. It would allow him to negotiate a higher base salary, possibly crossing the $10 million threshold, alongside richer incentive structures tied to playoff appearances, ACC titles, and postseason success.

Beyond salary, Florida State’s deep investment in infrastructure, staff budgets, and NIL backing gives coaches the financial support to actually reach those benchmarks, which in turn multiplies their bonus potential. It’s the same ecosystem Franklin has long said he needs to “win at the highest level.” 

If the Florida State job were to open, the former Penn State coach’s name would likely surge to the top of the list, and not without reason. His track record of rebuilding programs and sustaining competitiveness fits the mold of what Florida State has historically sought in a head coach. Despite his tenure at Penn State ending on a sour note, he still guided the Nittany Lions to a College Football Playoff berth less than a year ago, proving his ability to compete at the national level. At Florida State, the pathway back to the postseason could be even more attainable, given the ACC’s relatively open field compared to the Big Ten gauntlet he faced.

Taking over in Tallahassee would also give him a chance to reset his brand, step into a market that thrives on visibility and ambition, and reassert himself as one of college football’s elite coaches. For all those reasons, while Virginia Tech may seem close to closing a deal, Franklin’s lingering patience makes sense. 

The ball is entirely in Franklin’s court now, and Virginia Tech can do nothing but wait and hope that their massive financial commitment is enough to close the deal before Mike Norvell’s seat in Tallahassee gets too hot to ignore.​​

Virginia Tech’s safety bet if Franklin falls through

While Crawford still feels optimistic about landing Franklin, he’s being careful not to oversell the timeline or certainty of the deal.

“I still feel good about a deal getting done. Not as soon as I probably would have projected here early in the week, I think there are still things to play out.

“There was no verbal agreement, so you saw people posting on Monday, Tuesday earlier in the week saying that it’s it’s all but wrapped up that is that is not further from the case, it is not true,” Crawford clarified, urging fans to stick with verified sources rather than getting swept up in speculation. 

That’s where names like Manny Diaz, PJ Fleck, and Bob Chesney come into play. Crawford revealed these backup options before other national insiders started circulating them. 

“Obviously, had great bowl success at Minnesota, turning around Western Michigan. There’s a lot there. Obviously, Bob Chesney, it’s been highlighted a ton on this show, what he’s been able to do at JMU, Holy Cross, Assumption, flipping that around the staff he’s built out,” Crawford said.  But none of these coaches carries the same name recognition or fundraising power that Franklin does. 

“It’s just a lot of these coaches don’t have the pedigree staff and won’t exactly open wallets the exact same way that a Franklin would,” he admitted, showing the harsh reality that Virginia Tech’s big NIL promises and donor enthusiasm are tied directly to landing their top target.

If Franklin walks, the Hokies will still get a competent coach, but the energy and financial backing behind the hire will take a noticeable hit.​