Is Private Equity Ready to Burn $50 Million on Failing Coaches?

James Franklin, the long-serving head coach of Penn State’s football team, was fired on Sunday after a series of disappointing losses and seasons. As compensation for his troubles, he could receive the second-largest buyout in college football history, worth roughly $50 million (unless he lands another job).

Penn State could get some help covering the cost. The Big Ten Conference — of which Penn State is a member — is debating whether to approve a $2.4 billion private equity deal with UC Investments, a California pension fund. A decision could come this week, according to Yahoo Sports. If passed, the partnership will deliver at least $100 million in immediate cash to each conference member.