Penn State Hot Board Shrinks: Top Targets Secured

UNIVERSITY PARK, Pa. – May 21, 2024 – The speculative “hot board” for a potential Penn State football coaching vacancy has seen two high-profile names removed from consideration, as both Nebraska’s Matt Rhule and Texas A&M’s Mike Elko recently signed significant contract extensions. This development signals continued stability for their respective programs and, by extension, underscores the current landscape surrounding Nittany Lions head coach James Franklin.

Matt Rhule, whose name has frequently surfaced in discussions of high-profile coaching moves due to his track record of program turnarounds, inked a two-year contract extension with the University of Nebraska on Monday, May 20. The new deal secures Rhule in Lincoln through the 2029 season and increases his annual salary from $5.5 million to $6.25 million by the end of the term. Rhule just completed his first season with the Cornhuskers, guiding them to a 5-7 record, a step forward for a program that has struggled for consistency. His previous successes rebuilding programs at Temple and Baylor made him a natural fit for any “next big job” discussion among college football analysts and fans.

This news follows a similar move made by Mike Elko, another coach frequently linked to top-tier positions. Elko, currently leading the Texas A&M Aggies, signed a six-year, $42 million contract in December 2023. The substantial deal, which pays him approximately $7 million annually, came shortly after he was hired away from Duke University to replace Jimbo Fisher. With a significant buyout clause, Elko’s long-term commitment to College Station made any swift departure for another program highly improbable. Elko had a successful two-year stint at Duke, including a 9-4 record in 2022, showcasing his ability to elevate programs with strong defensive acumen.

The “hot board” concept, largely a construct of media speculation and an active fanbase, often arises when programs like Penn State are perceived to be on the cusp of greater success, or when their current coach’s name is linked to other opportunities. Penn State’s current head coach, James Franklin, has been a consistent presence in such discussions despite his own robust contract. Franklin signed a massive 10-year, $75 million deal with Penn State in November 2021, a contract designed to cement his long-term future in University Park.

Under Franklin’s leadership since 2014, Penn State has achieved consistent top-10 finishes and multiple New Year’s Six bowl appearances, including a Big Ten Championship in 2016. However, the program has yet to break through into the College Football Playoff, leading to periodic “will he stay or will he go” conversations among the passionate Nittany Lion faithful, particularly when high-profile jobs open up or after a disappointing loss. Franklin’s name has been floated for positions at programs such as LSU and USC in past coaching cycles, even with his substantial contract at Penn State.

With two of the most prominent perceived candidates now firmly entrenched in their current roles with substantial commitments, the focus for Penn State — and its fanbase — remains squarely on Franklin’s continued tenure and the program’s pursuit of a national championship. The recent contract activity elsewhere suggests that the coaching carousel, at least concerning these two names and their hypothetical interest in a Penn State role, has momentarily slowed.