Late in the evening of September 27, the Penn State Nittany Lions boasted an undefeated record, holding the No. 3 spot nationwide and a two-touchdown edge over then-No. 6 Oregon in the fourth quarter of their home matchup.

Just fifteen days after conceding that game in overtime — followed by two further losses despite being favorites by at least 20 points — the Nittany Lions stand at a 3-3 record, leading to the dismissal of coach James Franklin, despite a contractual obligation of more than $49 million.

“Penn State extends immense gratitude to Coach Franklin for elevating our football program to a national prominence,” stated Penn State athletic director Pat Kraft. “He secured a Big Ten Championship, guided us to seven New Year’s Six bowl games, and achieved a College Football Playoff appearance last year. Nevertheless, we maintain the highest standards for our athletics programs, and we deem it the right time for fresh leadership to steer our football team toward Big Ten and national championship pursuits.”

The decision to part ways with Franklin is quite startling, even in the unpredictable arena of college football, due to the substantial finances tied to his contract and the period of success the team has recently enjoyed.

At 53, Franklin is the second most successful coach in the history of the Nittany Lions, surpassed only by Joe Paterno. He recently took Penn State to the College Football Playoff semifinals, concluding last season ranked fifth in the final Associated Press poll, marking the team’s best finish since 2005.

The Associated Press had Penn State positioned at No. 2 nationwide in August, and they potentially could have claimed the top rank had they maintained their lead to overcome Oregon instead of the overtime defeat.

After the loss to the Ducks, the Nittany Lions lost twice more — on the road against the UCLA Bruins as a 24.5-point favorite and at home to the Northwestern Wildcats as a 21.5-point favorite. The two losses came by a total of six points but weren’t close enough to save Franklin’s job.

Penn State hired Franklin, who previously coached at Vanderbilt, ahead of the 2014 season, initially signing him to a six-year contract.

In 2021, after Franklin had led the Nittany Lions to three 10-win seasons (and their first since 2009), the school signed him to a 10-year extension through 2031. Penn State will now pay Franklin the $49.7 million remaining on that deal to step away from the program, according to USA Today, only nine months after he was one game away from a national championship appearance.

The buyout is the second richest in college football history behind the more than $76 million Texas A&M owed Jimbo Fisher after it fired him in 2023.

While Franklin delivered six 10-win seasons, including three straight from 2022 to 2024, he also struggled in marquee matchups.

After the loss to the Ducks in late September, Franklin fell to 4-21 in games against opponents ranked in the top 10 of the AP poll, including 1-18 against Big Ten foes.

“I get that narrative, and it’s really not a narrative — it’s factual. It’s the facts,” Franklin said after the Oregon defeat. “I try to look at the entire picture and what we’ve been able to do here. But at the end of the day, we got to find a way to win those games. I totally get it. And I take ownership. I take responsibility.”

Two people who could be candidates for Nittany Lions job are two other Big Ten coaches, according to The Athletic: Indiana’s Curt Cignetti and Nebraska’s Matt Rhule.

Whomever the school ultimately hires will be trying to lead Penn State to its first national championship since 1986.