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Penn State Cuts James Franklin’s Buyout from $49M to $9M After Hokies Hire

Penn State drastically reduced Franklin’s buyout, cutting it from $49 million to $9 million after he secured his next job at Virginia. CBS' Marcello and On3's Nakos reported the agreement, which saves the school significant money as its coaching search continues. Franklin leaves after 11 seasons, a 104-45 record, one Big Ten title and a playoff run before this year’s collapse.