UPDATE 6:00 p.m.: Old Dominion has officially named Ricky Rahne as its new head coach.
In a press release, Old Dominion President John R, Broderick said "I am happy to welcome Ricky Rahne to the Monarch community, We are fortunate to have him, and I look forward to the future. With his strong track record of building offensive success and turning around programs, he is the right person to lead our football team into 2020 and beyond."
James Franklin made a statement for the release, saying "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!"