Two Penn State trustees release a statement responding to "rumors and misinformation" about the athletic department's apparel deal with adidas.

The school and the brand publicly defended their 10-year deal Saturday. The post Penn State, Adidas Deny Wrongdoing Around $300M Apparel Deal appeared first on Front Office Sports.

David Kleppinger, chair of Penn State's Board of Trustees, and vice chair Rick Sokolov signed the statement, which referenced "false rumors" and called a suggestion that Kraft acted irresponsibly in negotiating the deal "reprehensible." Penn State posted the statement on its website after Saturday's loss at Beaver Stadium.

Penn State’s denial comes in response to a report from WV Sports Now managing editor Mike Asti, who claims that Adidas “drove” the firing of Franklin and is paying “most of, or all of, the money” in Franklin’s $49 million contract buyout. Asti said the university reached out to him to dispute the report, which he still stands by.

If the reports are accurate, the Penn State-Adidas agreement will be for 10 years and $100 million. It’s very similar to the deal that Tennessee announced last month with Adidas, which includes “unprecedented” NIL opportunities for athletes in all of the Vols’ sports.

In February, Penn State president Neeli Bendapudi announced plans to consider shuttering as many as a dozen of the 19 campuses in the university’s commonwealth system. All four of the branch