Penn State University is receiving $5-million to endow its head-football-coach position, which Joe Paterno has held for 42 years. The gift, from Patrick and Candace Malloy, was announced five days after Mr. Paterno’s annual salary of $512,664 was revealed, despite a lengthy court challenge by the university.

Income from the Malloy Paterno Head Football Coach Endowment will not be used to raise the salary of Mr. Paterno or his successor. Instead, the endowment, thought to be the first of its kind, will help finance the coach’s expenses, such as for recruiting players.

The endowment will be a draw for coaches vying to replace the 80-year-old Mr. Paterno. Some Penn State fans have speculated that a top-flight successor would ask for much more than his relatively low reported salary.

Mr. Paterno will be inducted into the College Football Hall of Fame tonight. In a written statement he said the $5-million gift meant as much to him as the induction. “I guess Christmas came early this year,” he said. —Paul Fain