It’s been 52 days since Penn State Nittany Lions’ throne went empty. In the hunt, coaching suitors have been bulking up their résumés, and a cool $370 million is dangling in the mix. Amidst this, a new update emerged, suggesting that the former New York Giants head coach could snatch the crown.

“NEW: Penn State’s search has netted other coaches an estimated $370.8M in extension money🤯,” reported On3 on December 3.

The Nittany Lions’ hunt for a head coach has been a $370 million parade for some. Eight wishlist coaches have already scored massive extensions. And yet, the biggest shocker? Penn State still doesn’t have a head coach. So, who encashed the biggest check?

Notably, Indiana Hoosiers’ Curt Cignetti sat at the very top of Penn State’s dream board. So the Hoosiers didn’t mess around. Afraid to lose their ace, Indiana served the most significant extension of the cycle, locking him in with an eight-year, $92.8 million megadeal.

One of the biggest names on Pat Kraft’s early-season Penn State shortlist was Texas A&M Aggies’ Mike Elko. His stock skyrocketed after knocking off the Arkansas Razorbacks, LSU Tigers, and Missouri Tigers. And once the Aggies smelled a College Football Playoff run, they slammed the door shut. They re-upped Elko on a six-year deal, reportedly worth over $11 million per year, making it worth $66 million.

While Penn State looked Mizzou’s way, the Tigers locked their coach, Eli Drinkwitz, down with a six-year, $10.75 million deal. Not to be outdone, the BYU Cougars handed Kalani Sitake a fresh extension worth $9-$9.5 million annually. As these names got struck off the list, analyst Joel Klatt dropped a few candidates who remain in the running for the Nittany Lions job. 

Former Penn State defensive mastermind Manny Diaz, who is now running the show at Duke Blue Devils, has resurfaced as a good option in Klatt’s book. Alabama’s Kalen DeBoer is also in the rumor mill, though his status is murky with the SEC title game looming. 

Despite all the noise, Terry Smith, the Nittany Lions’ interim captain, is still steering the odds race. Kalshi numbers reported by College Football Report have him leading at 43%. Right behind him is the very candidate Klatt has been championing, Brian Daboll.

“Multiple sources share Penn State has reengaged talks with ex @Giants HC Brian Daboll,” reported FootballScoop.com analyst John Brice.

Kalshi favored the former New York Giants head coach at 33%. Ever since he was fired in November, his name has hovered around Penn State. He may not have deep Nittany Lions roots, but his son did spend time on the staff as a student assistant. 

His biggest USP for the college football job? Daboll was the offensive mastermind behind Alabama’s 2017 national championship. Here came the most significant endorsement from the GOAT.

“He’s a very good coach,” said Nick Saban. “I think that would be an outstanding hire.”

It draws parallels to Tennessee’s chaotic 2017 head coaching search. Following Butch Jones’ dismissal, his departure highlighted a pattern in which potential hires leveraged the university’s interest to secure better deals at their current positions.

But the Smith buzz in the Nittany Lions camp just got louder.

Penn State Nittany Lions interim head coach gained a quarterback believer

Traditionally, Penn State’s signing day classes were described as star-studded and steady. However, when the Class of 2026 was announced on Wednesday, December 3, the reactions came with a very different set of adjectives.

“Saddest National Signing Day,” read one Sports Illustrated headline.

With no head coach in place, Penn State stumbled through National Signing Day, inking only two recruits. The damage? A No. 150 ranking on 247Sports, trailing FCS squads like Columbia Lions, Montana Grizzlies, and West Georgia Wolves. 

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For comparison, USC Trojans lead the nation with 35 signees, Rutgers Scarlet Knights are No. 44 with 21, and Franklin’s Virginia Tech Hokies sit at No. 22 with 23 signees. However, of the commits Penn State locked in, Smith has already won the trust.

Peyton Falzone, the standout quarterback from Nazareth, shocked everyone by jumping into Penn State’s 2026 class. All this while, he’d been eyeing Virginia Tech and Auburn, but now he’s all-in with Team Smith.

“I try to figure out the head coach position. I’m very hopeful it’s Coach Smith,” said Falzone. “He’s a great guy, and I think he can lead the team.”

Terry Smith’s lane is getting smoother by the day. The one coach who could have derailed him, James Madison Dukes’ $2.75 million head coach, Bob Chesney, is reportedly packing for the UCLA Bruins.

In other words, after a wild carousel that pushed $370 million across the sport, is Penn State about to end the hunt?