Particle.news
Download on the App Store

Markets Favor Matt Rhule as Penn State Opens Big‑Swing Search to Replace James Franklin

A rarely noted offset in Franklin’s contract could shrink the reported $45–$49 million buyout if he takes another job.

Overview

  • Penn State athletic director Pat Kraft said he is personally running a national search, with On3 reporting he plans to pursue high-profile targets including Notre Dame’s Marcus Freeman.
  • Associate coach Terry Smith has been named interim head coach for the rest of the season after Franklin’s dismissal following a 3-3 start.
  • Early wagering signals show Nebraska’s Matt Rhule as the frontrunner, with BetOnline listing him at 3/1 and prediction market Kalshi giving him a 50% chance as of Tuesday evening.
  • Front Office Sports reported Franklin’s contract includes an offset clause that would reduce Penn State’s buyout payments by the salary he earns in a new coaching role through the deal’s term.
  • Locker-room and recruiting turbulence followed the move, with senior Nick Dawkins describing an “overwhelming sense of guilt” and multiple 2027 commitments decommitting, leaving that class temporarily empty.