James Franklin’s buyout was a major part of the story when Penn State decided to fire him Sunday, but the Nittany Lions reportedly could avoid paying all of it.

ESPN’s Pete Thamel reported the buyout of more than $49 million is the second-biggest one in college football history behind Jimbo Fisher’s $76 million one with Texas A&M. That buyout extends to the end of the 2031 season, when Franklin’s deal with Penn State was set to expire.

However, Amanda Christovich of Front Office Sports relayed terms from his 2021 contract extension with the Big Ten program that said he is obligated to search for a new job following the firing.

That is notable because salary from a new job would offset the total sum owed by the Nittany Lions.

“In other words, Penn State will have to pay him only the difference between his new salary and the amount of the buyout,” Christovich explained. “If he gets another salary worth more than the terms of the buyout, Penn State owes him nothing. Franklin may even have to reimburse them if payments have already been made, the contract says.”

While Penn State fans were surely frustrated by Franklin’s inability to get over the hump and perform well in marquee games with a 4-21 record against top-10 foes, he will surely generate interest elsewhere.

After all, he went 104-45 during his tenure with the Nittany Lions and finished with double-digit wins in six different seasons. He led the program to the Big Ten title in 2016 and reached the College Football Playoff semifinals last season.

Granted, he also lost to Ohio State in the regular season, Oregon in the Big Ten title game and Notre Dame in the CFP last season, which was more of the same for a head coach who couldn’t deliver in the biggest games.

But he wasn’t fired until he lost back-to-back games against UCLA and Northwestern. It was one thing when he lost the headliner games but still won against the overmatched foes, but it was another when the Nittany Lions dropped out of the CFP race with those ugly losses.

Still, there are sure to be a number of teams interested in Franklin during the coaching carousel given his overall track record of success. And that could help Penn State save some money in the long run.