Taylor's departure followed five players entering the transfer portal on Thursday.
The restaurant will be located inside the Engineering Collaborative Research and Education Building.
"I’ve thought long and hard about what advice I may wish to pass on and realized that I don’t have anything remarkable or profound to say."
Penn State last won the Big Ten Tournament in 2019.
Penn State last won the Big Ten Tournament in 2015.
The announcement came after Parker decommitted freom West Virginia on Monday.
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