Overview

• Penn State athletic director Pat Kraft said the athletics department will fund Franklin’s exit package and installed associate head coach Terry Smith as interim while a national search proceeds.
• Front Office Sports’ review of Franklin’s 2021 deal shows a duty-to-seek-employment clause and an offset provision that reduces Penn State’s payments by any compensation he earns elsewhere.
• Reports place the buyout in the roughly $45–$50 million range, the second largest for a fired college coach after Texas A&M’s $76.8 million to Jimbo Fisher in 2023, following Penn State’s fall to 3-3.
• Early candidate chatter centers on Nebraska’s Matt Rhule and Indiana’s Curt Cignetti, with additional reporting tying Notre Dame’s Marcus Freeman and Iowa State’s Matt Campbell to Kraft’s shortlist; Rhule praised Penn State but did not commit to pursuing the job.
• Commentary across outlets says the move could intensify spending and turnover pressures in college football, and one analyst estimated total costs including staff changes and a new hire could top $100 million, a figure characterized as an estimate.