$40 million award-winning college football coach emerges as favorite at Penn State

A new college football coach has emerged as a heavy favorite to be Penn State's next leader.

Nov 29, 2025; Piscataway, New Jersey, USA; Penn State Nittany Lions running back Nicholas Singleton (10) carries the ball against the Rutgers Scarlet Knights during the first half at SHI Stadium. Mandatory Credit: Vincent Carchietta-Imagn Images | Vincent Carchietta-Imagn Images

Penn State has not operated the quickest college football coaching search, but the program may be close to landing a top candidate. Amid ongoing college football rumors, Penn State may be plucking one of the top coaches in the Big 12.

The news comes after Penn State struck out on landing another Big 12 coach in BYU's Kalani Sitake, who signed a last-minute contract extension amid interest in Happy Valley. Iowa State's Matt Campbell has emerged as a heavy favorite to be named the next Penn State coach.

Campbell is given a 59% chance to land the Penn State job in the betting odds, per Kalshi. Interim coach Terry Smith is a distant second at 30%. Duke's Manny Diaz and former Giants coach Brian Daboll are also listed among the field of favorites.

Iowa State HC Matt Campbell has previously turned down plenty of jobs prior to Penn State

Campbell was once a perennial name floated as each college football coaching carousel cycle came and went. Now, it appears Campbell is considering a move from Iowa State to Penn State.

If this is the end of the Matt Campbell bit, here is a (probably incomplete) list of every job we have tied him to over the years:

UCF
Utah
UCLA
Baylor
Purdue
Arizona
Georgia
Alabama
Michigan
Arkansas
Cincinnati
Ohio State
Penn State
Texas A&M
Washington
West Virginia
Kansas… pic.twitter.com/dFPuqxsldI

— Gamblin' Gauchos 🎙️ (@GamblinGauchos) December 5, 2025

"Iowa State's Matt Campbell has emerged as the focus of Penn State’s head coaching search, sources tell me, @PeteThamel and @ESPNRittenberg," ESPN's Max Olson posted on X on Thursday.
"The sides are expected to meet and there's mutual interest."

Penn State target Matt Campbell is on a $40 million contract with Iowa State through 2032

While Campbell has not been a name frequently floated in other coaching jobs this cycle, the Iowa State coach has been rumored to turn down plenty of other programs in years prior. Prior to the 2025 season, Campbell signed a new $40 million contract extension that is slated to run through 2032, per Olson.

Iowa State's Matt Campbell has emerged as the focus of Penn State’s head coaching search, sources tell me, @PeteThamel and @ESPNRittenberg.

The sides are expected to meet and there's mutual interest. pic.twitter.com/GOP8GoiS43

— Max Olson (@max_olson) December 5, 2025

Campbell is making $5 million annually with the Cyclones. If hired by Penn State, Campbell would bring an extensive resume as a 3-time Big 12 Coach of the Year as well as the MAC Coach of the Year during his time at Toledo.

Campbell has a 107-70 record during his 15 seasons as a college football head coach. It will be worth watching to see if Penn State can get this deal to the finish line, unlike the other previous candidates.

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