Updated (6:15 p.m.): Old Dominion has made it official, naming Penn State offensive Ricky Rahne as its next head coach.

And Penn State head coach James Franklin has responded, releasing a statement Monday evening immediately following the announcement.

"First, I love Ricky and his family.

"This is a bittersweet moment for our program. I am so incredibly proud of Ricky and I am super excited for him, his family and Old Dominion. I am forever indebted to Ricky for his loyalty and drive in helping us succeed at Vanderbilt and Penn State!

"Ricky is a rising star in the industry and is built for this opportunity. He is a smart, open-minded and talented coach. His humble leadership style will resonate well with Old Dominion’s leadership and players. I look forward to following his program at Old Dominion!"

Original story: According to FootballScoop.com and Yahoo Sports' Pete Thamel, Penn State offensive coordinator Ricky Rahne is set to become the next head coach at Old Dominion, the site reported Monday afternoon.

Rahne has been Penn State's offensive coordinator since the Fiesta Bowl wrapping the 2017 campaign, the Nittany Lions going 20-6 during his tenure with the program. He also was in charge of Penn State's offensive play calling in a TaxSlayer Bowl loss to Georgia to conclude the 2015 season.

A quarterback at Cornell during his playing days, Rahne made stops at Holy Cross, his alma mater, and Kansas State before joining head coach James Franklin as quarterbacks coach during their three-year stint at Vanderbilt. Upon Franklin's move to Penn State, Rahne also moved with the staff to become the Nittany Lions' quarterbacks coach before moving to tight ends during Joe Moorhead's tenure as offensive coordinator in Happy Valley during the 2016-17 seasons.

Penn State has not provided comment regarding the report, nor indicated who would be in charge of calling plays for the Nittany Lions' Cotton Bowl appearance later this month.