"Roughly five months after announcing the closure of seven campuses for financial reasons, Pennsylvania State University is set to pay at least $45 million to part ways with former head football coach James Franklin, who was fired over the weekend, The Athletic reported. Estimates of the buyout have ranged from $45 million to as high as $49 million, which is believed to be one of the highest in college football history."
"Franklin, who led the Nittany Lions since he was hired in 2014 and compiled a record of 104 wins and 45 losses, was fired after a string of three straight defeats-the last two to unranked teams. Penn State athletic director Pat Kraft told media in a Monday press conference that the athletic department would cover Franklin's multimillion-dollar exit package, but he did not specify whether that would be funded by donations from football boosters, as some observers have speculated."
Pennsylvania State University will pay at least $45 million to part ways with former head football coach James Franklin after his firing. Estimates of the buyout have ranged from $45 million to $49 million, making it among the largest in college football history and second only to Jimbo Fisher's $76.8 million Texas A&M exit package. Franklin compiled a 104-45 record since 2014 and was dismissed following three consecutive losses, including two to unranked teams, after beginning the season ranked No. 2 in the AP poll and falling out of the rankings. The athletic department will cover the exit package, and funding sources were not specified.
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