Penn State Saves Nearly $40 Million With Latest James Franklin Move
Summary
Penn State University saved almost $40 million by negotiating a lower buyout deal with former head coach James Franklin after his termination. Initially, Franklin was owed around $49 million, but the settlement was reduced to about $9 million as he took a new coaching job at Virginia Tech. Penn State is still looking for Franklin's replacement.Key Facts
- Penn State saved millions by renegotiating James Franklin's contract buyout.
- Franklin's original buyout was nearly $49 million.
- The final buyout amount settled at around $9 million.
- Franklin was terminated after three consecutive losses.
- His new job at Virginia Tech helped offset the buyout amount.
- Franklin was Penn State's head coach since 2014.
- Penn State is searching for a new head coach.
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