UNIVERSITY PARK, Pa. — The Penn State Board of Trustees today approved a contract extension for Vice President for Intercollegiate Athletics Dr. Patrick Kraft that will go through June 30, 2032. Per board bylaws, the contract was approved by the Committee on Equity and Human Resources, and the vote was unanimous.
“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,” said Penn State President Neeli Bendapudi. “This new contract will help ensure Penn State continues to benefit from Pat’s leadership for years to come.”
The average annual value of guaranteed compensation over 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 attainment of specific goals, including for academic and competitive excellence. The University worked with leading consulting firm Segal to conduct a nationwide competitive market analysis of NCAA Division I athletics directors’ compensation to determine a competitive compensation level.
“Pat has done an amazing job leading Penn State Athletics, achieving new records in philanthropic gifts while always focusing on enhancing student-athlete well-being,” said Matthew Schuyler, chair of the Penn State Board of Trustees. “We are thrilled that Pat will continue to lead ICA through the completion of the largest athletic construction project in our history, and, under his leadership Penn State Athletics is poised to reach new levels of success and distinction.”
Kraft joined Penn State from Boston College in July 2022. Under his leadership, Penn State has achieved landmark success in athletics, academics, fundraising and student-athlete support, including six individual NCAA champion student-athletes, 19 nationally ranked teams and the NCAA National Champion wrestling team in the 2023-24 season alone. In the 2022-2023 season, he led Penn State to its highest Learfield Directors' Cup finish since 2018-19, ranking No. 15.
With focus on student-athlete well-being, Kraft created a mental health and wellness department within Intercollegiate Athletics, and he has invested significantly in enhancing the student-athlete experience through nutrition, mental health support, recovery and travel programs. He led Penn State to a 93% NCAA Graduation Success Rate, including 12 programs with 100% ratings, in the NCAA’s most recent report.
With Kraft at the helm, Penn State Intercollegiate Athletics received the second, third and fourth largest philanthropic gifts in its history, including two recent eight-figure gifts in support of the Beaver Stadium renovation. Under his leadership, Athletics has secured over $1 billion of guaranteed revenue over the next decade and experienced record-breaking ticket sales.
“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,” said Kraft. “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.”