Penn State has a stadium-sized money problem if it wants to part ways with James Franklin, and any thoughts of a buyout happening in the near future should probably be put out of your mind.
Pat Kraft made the decision during the offseason to go all in on football — on this coach, this quarterback, and this program. Coming off the national semifinal, James Franklin was given the “home run” coordinator he wanted. He was also given a solid, though not best-in-class, NIL purse. He has complete control over virtually every aspect of the program except one: the renovation of Beaver Stadium.
A significant amount of money is being directed to and tied up in that stadium. The costs are high, and any funds that could be used for a buyout are already committed to the renovation. Interest rates are high, material costs have risen (tariffs aren’t helping), and while the project is on schedule, it is not fully on budget despite public statements to the contrary.
The one or two individuals who could write the check aren’t the type to spend money just to make a statement. They don’t like wasting money, and they don’t want to do it here. What’s left is a highly leveraged athletic department paying for a stadium while betting on this team — and that bet is failing in spectacular fashion. I think James has lost the fanbase, and that makes the jobs of the major gifts team much harder, both in building the excellence fund and in stadium fundraising.
I’ve been told they have a few major gifts in their back pocket that they’ve been holding onto; I’d expect those to be announced soon to calm the masses. But don’t waste the keystrokes speculating about some dramatic, bombastic move from the athletic director. They can’t afford it.
And for the record, Landon Tengwall is acting like a clown, as is PSU Barstool for advocating actions that harm the program. We’re stuck with James for now, and we’ll have to hope he changes his approach. The only realistic path out is a mutual separation at the end of the season — and that would require James deciding he no longer wants to do this here.
