Penn State athletic director Pat Kraft isn’t going anywhere anytime soon.

Kraft received a contract extension that will run through June 2032, the university announced Monday morning. The Penn State Board of Trustees, and more specifically the board’s Committee on Equity and Human Resources, approved the extension unanimously.

Kraft’s average annual value of guaranteed compensation over the next eight years is $2.26 million per year with the opportunity for an additional performance-based bonus of up to $350,000 annually, based on the attainment of academic and competitive goals.

“I am deeply thankful to President 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 from Boston College in July 2022. Since he took over, the Nittany Lions have had six individual NCAA champions, 19 nationally-ranked teams and an NCAA team title in wrestling in the 2023-24 season alone. Kraft has also played a major role in fundraising for the current renovation project at Beaver Stadium.