After weeks of drawing connections with Virginia Tech, James Franklin finally replaced Brent Pry. Franklin was 104-45 overall in 12 seasons with Penn State and led them to their first college football playoff berth last season; now it’s time for Virginia Tech to resonate that success. But this move isn’t just a win for Virginia Tech but also for Penn State, which saw Franklin’s hefty buyout slashed.

Virginia Tech makes a massive move, but it turns out it’s Penn State who now doesn’t have to pay a hefty $49 million buyout to James Franklin, as after negotiations and his move to Virginia Tech, it’s reduced to just $9 million. Franklin’s buyout was the second largest in college football, but after both programs came to talks, the number got reduced to a much lower sum. As Yahoo Sports’ Ross Dellenger reported on X: “Franklin’s buyout drops from $49 to $9 million. It would have been offset with his new Virginia Tech salary.”

This reduction is a big push for Penn State as they save $40 million for the next hire. And AD Pat Kraft already hinted back in October about a better contract negotiation in the new NIL and revenue-sharing landscape. “When all these contracts were signed, the use of the money going to revenue share and all the other pieces that are involved was not in place,” Kraft said. “You have to process the financials in such a different light.” Now, stressing about the buyout is not their problem anymore.

Virginia Tech was the first Power Four program to make a head coaching change this season after Pry went 0-3. And now, after going 16-24 under him, they become James Franklin’s third college spot. This move can become Franklin’s second turnaround stint after Vanderbilt, where he took the dead SEC program to back-to-back bowl games in his three-year tenure for the first time. Then, under him in 2012, Vandy went 9-4, earning ranks in both the AP Top 25 and Coaches Polls for the first time since 1948.

Now, after a 16-24 season under Brent Pry, Franklin’s championship resume and recruiting excellence will do wonders for them. Best part? Virginia Tech is already planning to invest a hefty $229 million into their athletics department for the next four years after its Board of Visitors approved this budget back in September, after Pry’s firing. With that kind of backing, Franklin can do wonders for the team.

For now, James Franklin’s new contract details are not known, but there’s a high possibility that after the $9 million dip from $49 million in his buyout after Virginia Tech hired him, there’s a high chance they might cover the rest of his $40 million in the new contract. But now the only issue lies with Franklin’s ability to go against ranked teams, as he holds a 4-21 record against AP top 10 teams. If that’s addressed, Franklin might be the biggest gift for Virginia Tech.

With their move, even Penn State’s eyeing another $4.5 million target.

Penn State looking at $4.5 million target after James Franklin’s move

Penn State has been looking for their next guy since parting ways with James Franklin. Names like Mike Elko, Curt Cignetti, and Matt Rhule have been making buzz since the start, but now all eyes are set on Georgia Tech’s head coach Brent Key, whose coaching expertise has put the Yellow Jackets in contention for an ACC championship win and a potential move to college football playoffs.

For now, Key holds the second-best odds of 19% to become Penn State’s next head coach after Eli Drinkwitz, who currently holds a 38% chance, as per Kalshi. Looking at his 26-17 record and 19-10 ACC mark, getting Key looks like a strong move. But let’s not forget his connection runs deep with Georgia Tech. He played right guard for them from 1997 to 2000, then came back in 2019 as a staff member and became the interim leader when Georgia Tech fired Geoff Collins in 2022.

After talking with Reins, he initially signed a $15 million contract for five years and even signed a contract extension in December. So, this makes his move a bit tricky. But let’s wait and see if Penn State has any shot with him.