Toledo head coach Matt Campbell has emerged as the top candidate to take over the ISU head coaching job, according to a Sports Illustrated report. 

A deal is expected to be finalized in the next 48 hours, according to the report. 

Campbell has spent the last five seasons at Toledo, amassing a 35-15 record. He took over the Rockets in 2011 as an interim coach and finished the season with a win in the Military Bowl.

In the 2015 season, Campbell has put Toledo, part of the Mid-America Conference, on the national map, with the Rockets rising to top-25 status.

Under Campbell, Toledo has won two straight MAC championships. Campbell is 35 years old, the second youngest coach in the FBS.

Current ISU running back coach Lou Ayeni coached at Toledo with Campbell and would be expected to stay if indeed Campbell heads to Ames. 

Paul Rhoads was told his ISU coaching career was over on Sunday morning, but was allowed to coach one more game. Rhoads went 32-54 in his seven seasons at Iowa State.

Iowa State has won eight games in the last three seasons.