Penn State owes a big thank you to Virginia Tech.

With ex-Penn State football coach James Franklin moving on to take the Virginia Tech job, the Big Ten school is saving nearly $40 million of Franklin’s buyout.

Franklin signed a 10-year, $75 million contract with Penn State in 2021, which means the school owed him a $49 million buyout.

“A source familiar with the situation confirmed that Penn State recently negotiated a new $9 million buyout to Franklin, getting the rest of that potential buyout off the books, perhaps an indication of what Franklin will earn at Virginia Tech,” according to reporting from college football reporters Grace Raynor and Chris Vannini of The Athletic .

The news was first reported by the Centre Daily Times.

Virginia Tech fired Brent Pry on September 14 aft

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