Ioane was also on the watch list for the award a season ago.
The award has been presented since 2004, the year Allar was born.
This marks the first time a collegiate team will play in the Spengler Cup.
The Nittany Lions have high expectations heading into this season after making the quarterfinals of the NCAA Tournament in consecutive years.
Durant and Ioane also made the Outland Trophy watchlist.
To help make sense of where you can live at Penn State, we helped expain the options.