Franklin will now compete with Penn State in the Northeast.
Duzansky was named to the award's watch list last season.
The Nittany Lions stay ranked despite being swept by Minnesota and winning a five-setter over Ohio State.
Franklin's original buyout was around $49 million.
The Nittany Lions went 15-16 last season and won the EIVA Tournament.
The Nittany Lions will play 53 regular season games this spring.