The Nittany Lions earned the No. 10 seed, which means they will face No. 10 Minnesota in the first-round game on Thursday night.
The Nittany Lions fell back early to the Gophers, and never recovered, to fall 81-63.
David Taylor and Ed Ruth win their 4th straight titles as well, becoming the 1st and 2nd Nittany Lions to accomplish the feat.
After the first day of wrestling, Penn State leads by 1 point heading into Sunday's finals and consolation rounds.
Ohio State got out to a hot start, and the Lady Lions could not recover in a 99-82 loss in the B1G quarterfinals.
D.J. Newbill scored 12 points and Penn State's zone defense stifled Northwestern in the Nittany Lions' 59-32 Big Ten win Thursday.
All three nominees are members of the 1986 national championship team.
The 2014 Penn State Coaches Caravan includes 17 stops in PA and Mid-Atlantic region.
Top-seeded Penn State will face either Ohio State or Northwestern.
See what the Nittany Lions are doing differently this year with the new coaching staff.