Penn State is working toward a deal to hire VCU's Mike Rhoades as the school's next men's basketball coach, sources told ESPN.

The sides are deep in discussions, according to sources, with clarity on a deal expected Wednesday.

Sources told ESPN on Wednesday morning that no deal has been completed, as Penn State needs board approval of the contract. That approval is expected to come together later in the day, according to sources.

Rhoades has yet to reveal his intentions to VCU officials, according to sources, but there's an increasing expectation at VCU that Rhoades is leaving for State College.