Penn State Has Fired James Franklin—Now, They Owe Him $50 Million To Go Away

What a fall from grace it's been for Penn State. The Nittany Lions ended last season as a semifinalist in the College Football Playoff. They entered this year with national title hopes and a gaudy No. 2 ranking in the preseason polls. After a 3-0 start, the Nittany Lions dropped a close game to Oregon, another top ten team. That loss was understandable; the following two—against a then-winless UCLA and a middle-of-the-standings Northwestern team—were less forgivable.

The Nittany Lions were favored by more than 20 points in both the UCLA and Northwestern contests. Penn State is the first school in 30 years to accomplish the dubious feat of losing two games favored by such large margins.

Now, the university administration has seen enough. It fired head coach James Franklin after the 3-3 start. He had spent 12 years as the program's head coach. Don't feel too bad for Franklin, though. By most reports, he's getting an absurd buyout of nearly $50 million to go away.

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The Athletic reported Franklin will get $45 million as a buyout; a few others put the number closer to $49 million. Franklin still had $56 million left on his contract at the start of the season. He's been paid some of his salary this season, but his deal was fully guaranteed. Barring some kind of agreement that reduces what the school owes, it seems Penn State is paying its former coach between $45 million and $50 million to no longer coach.

It's the second-highest buyout for a coach in NCAA football history. Only Texas A&M, which is paying Jimbo Fisher $76 million through 2031, has ever given a larger buyout.

Despite the enormous price tag, the move is indicative of the state of college football. Penn State was a play away from making the title game of last year's College Football Playoff. But the sport is so steeped in immediacy that last year is a distant memory. The Penn State program is in need of a shift right now. And the school is willing to pay one of the largest fees ever to try and make that happen.

Meanwhile, Franklin will be jobless for the first time in 30 years. Something tells us the buyout will make that much easier to handle.