The Razorbacks’ search is down to two, and James Franklin has made the final cut. Long linked to Arkansas, he now sits as the leading option with a 52% chance, per Kalshi odds. But the job isn’t his just yet. Another ACC contender is most likely to give an audition alongside Franklin.

“There are only two candidates that they have actually reached out to in Arkansas as of this moment,” Pat Smith said on the 3 Man Front podcast. “James Franklin and Rhett Lashlee, the only two that they have reached out to.” After Arkansas took that devastating 56–13 home loss to Notre Dame and dropped to 2-3, the Razorbacks sought a fresh start to salvage the program’s future in a tough SEC landscape.

Paul Finebaum has said repeatedly that Arkansas is “fixable.” The Razorbacks need someone who fits the culture, can rally a bruised fan base, and can navigate the cutthroat SEC week after week. Franklin is tailor-made for that role. He wrapped 12 seasons at Penn State with a 104-45 record, took the Nittany Lions to the College Football Playoff semifinals, and built one of the strongest recruiting pipelines in the country. His impact was so strong on recruiting that within an hour of his firing, five-star RB Kemon Spell decommitted. QB Troy Huhn soon reconsidered his commitment as well.

On the other side is Rhett Lashlee, and his case is just as compelling for a different reason. A native Arkansan and former Razorback quarterback (2002–2004), Lashlee brings hometown ties that no outsider can match. Since taking over SMU in 2022, he has engineered back-to-back 11-win seasons, an American Conference championship, and even an appearance in the expanded College Football Playoff as ACC runner-up. SMU is 22-6 over its last 28 games under his watch.

Despite the buzz, Lashlee kept a cool demeanor and dismissed the rumors. He has been particularly focused on the strong program he’s building at SMU, boasting a 22-6 record over his last 28 games. “Until there’s things to talk about, you don’t talk about them,” Lashlee said. “Internally, we haven’t said a word about it because, in my world, nothing’s going on. Outside, there’s a lot of that speculation, and that’s part of our business, and it’s probably not going anywhere.”

Arkansas’ financial boost

Arkansas football is trying to make a fresh start for its program with a new level of energy and financial boost. It’s almost as if hiring or luring an expensive coach won’t be a problem for the Razorbacks. “I talked to a couple of people who told me that Arkansas was willing to up the ante, in which they were going to spend money for the football program,” Pat Smith said.

“The athletic department is working to inject an additional 40 million dollars into the football program to go with the current budget.” That’s the kind of boost we are talking about. Arkansas athletic director Hunter Yurachek is pushing for a bigger football budget to make the Razorbacks competitive in the tough SEC. Arkansas football pulled in $72.4 million in revenue during the 2023–24 school year. Now that’s 41% of the whole athletic department’s $174.6 million.

The team’s expenses totaled $57.1 million, accounting for 34% of the department’s total $167.3 million. Now the need for funds is coming along for a reason. It’s because during Sam Pittman’s tenure, he really didn’t have the resources to do things smoothly. That’s just part of the problem, along with other coaching issues. So now, reports say Arkansas is planning to pump an extra $40 million into the football budget over the next four years. So basically, an additional $10 million a year. The idea is to push the Hogs into the top 5–8 in the SEC spending.