Penn State's three consecutive losses have earned former head coach James Franklin the second-biggest contract buyout in college football history.

The school fired its coach of 12 seasons Sunday after falling to Northwestern.

Franklin is owed almost $50 million, per multiple sources.

Only Jimbo Fisher's $76 million buyout from Texas A&M can top it.

Associate head coach Terry Smith is taking over on an interim basis for the 3-3 Nittany Lions, who have lost quarterback Drew Allar for the campaign through injury.

After reaching the College Football Playoff semifinals last year, Franklin suffered a chastening 42-37 loss to UCLA -- at the time a winless team that was yet to hold a lead.

Falling to Northwestern to drop a second straight home game proved to be the final straw.

Dave Por

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