When it first came to light that Patrick and Candace Malloy decideded to endow the head coach position for Penn State football (Penn State Live) it was widely reported that this was a new precedent. However, a Yale alumnus already had the idea. That is why Jack Siedleki is the Joel E. Smilow (’54) Head Coach of Football.
I let University Relations know about this a few days ago.
I also think this endowment clinches that Joe Paterno will coach as long as he wants to do so.