Penn State has fired coach James Franklin after 12 seasons, the school announced Sunday.
Franklin is owed more than $49 million, according to his contract. It’s the second-biggest buyout in college football history behind only Jimbo Fisher’s $76 million buyout from Texas A&M.
Associate head coach Terry Smith will serve as the Nittany Lions’ interim head coach for the remainder of the season, the school said.
Less than a year removed from an appearance in the College Football Playoff semifinals, Franklin’s program appeared to hit a new low when the Nittany Lions traveled out to Los Angeles two weeks ago only to lose to UCLA, a team that not only was winless but hadn’t previously held a lead all season.
The woes flew back home with the team to Penn State, and with them came “Fire Franklin!” chants at Beaver Stadium on Saturday. The Nittany Lions dropped their second straight home game, and third overall, when they fell to Northwestern 22-21 in front of a stunned crowd at Happy Valley.
With the two losses, Penn State became the first team since the FBS and FCS split in 1978 to lose consecutive games while favored by 20 or more points in each game, according to ESPN Research.
In Saturday’s defeat to the Wildcats, the Nittany Lions committed six penalties for 71 yards in the first half alone. They simply could never get out of their own way, and that was before quarterback Drew Allar suffered a season-ending injury in the fourth quarter.
Earlier in the season, when the losing streak began against Oregon at Happy Valley, Franklin fell to 4-21 at Penn State against AP top-10 opponents, including 1-18 against top-10 Big Ten teams.
Franklin’s .160 winning percentage against AP top-10 teams is tied for the third-worst record by a coach (minimum 25 games) at a single school since the poll era began in 1936, according to ESPN Research.
Hired in 2014 in the wake of Bill O’Brien’s departure for the NFL, Franklin inherited a team still feeling the effects of unprecedented NCAA sanctions in the wake of the Jerry Sandusky scandal.
Armed with relentless optimism and an ability to recruit, Franklin’s program regularly churned out NFL-level talent, from Philadelphia Eagles running back Saquon Barkley to Green Bay Packers edge rusher Micah Parsons. Franklin guided the Nittany Lions to the 2016 Big Ten title and a seemingly permanent spot in the rankings.
There was hope this fall might be the one when Penn State would finally break through and win its third national championship and first since 1986. Yet after three easy wins during a light nonconference schedule, the Nittany Lions crumbled.
Athletic director Pat Kraft said the school owes Franklin an “enormous amount of gratitude” for leading the Nittany Lions back to relevance but felt it was time to make a change.
“We hold our athletics programs to the highest of standards, and we believe this is the right moment for new leadership at the helm of our football program to advance us toward Big Ten and national championships,” Kraft said.
The move will cost Penn State at a time the athletic department has committed to a $700 million renovation to Beaver Stadium. The project is expected to be completed by 2027.
Former athletic director Sandy Barbour signed Franklin to a 10-year contract extension worth up to $85 million in 2021. According to terms of the deal, Penn State will have to pay Franklin’s base salary of $500,000, supplemental pay of $6.5 million and insurance loan of $1 million until 2031.
It’s a steep price, but one the university appears willing to pay to find a coach who can complete the climb to a national title.
“We have the best college football fans in America, a rich tradition of excellence, significant investments in our program, compete in the best conference in college sports and have a state-of-the-art renovated stadium on the horizon,” Kraft said. “I am confident in our future and in our ability to attract elite candidates to lead our program.”
The Associated Press contributed to this report.