Penn State Nittany Lions head coach James Franklin answers questions from the media following the game against the Northwestern Wildcats at Beaver Stadium.

Penn State football paid James Franklin handsomely on Sunday, Oct. 12, to remove the 12th-year coach from the program.

Franklin was fired on Oct. 12 after leading Penn State to three consecutive losses against Oregon, UCLA and Northwestern after being ranked No. 3 in the preseason US LBM Coaches Poll. The loss to UCLA marked the Bruins' first win of the season, and Northwestern was unranked.

Franklin's contract buyout ranks as the second-highest sum ever, behind former Texas A&M coach Jimbo Fisher, who was fired midway through the 2023 season.

Franklin led Penn State to the College Football Playoff semifinals in 2024 after the Nittany Lions beat SMU and Boise State in consecutive rounds before falling to eventual national runner-up Notre Dame.

Here's a look at Franklin's full buyout and contract details after being fired:

James Franklin buyout at Penn State

Franklin's contract was bought out for approximately $49.7 million, according to his contract obtained by the USA TODAY Network. Franklin was under contract through 2031 after signing a 10-year extension in 2021.

Most expensive college football buyout

Franklin's buyout is only the second-most expensive contract buyout for a coach in college football history, behind Fisher. He takes over the No. 2 spot from former Auburn coach Gus Malzahn after the latter received a $21.7 million buyout following the 2020 season.

Fisher's buyout is still tops in college football history, at a whopping $76.8 million.

This article originally appeared on USA TODAY: James Franklin buyout at Penn State: How contract compares to Jimbo Fisher

Reporting by Austin Curtright, USA TODAY NETWORK / USA TODAY

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