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Report: Iowa State hires Toledo's Matt Campbell

Toledo coach Matt Campbell is reportedly heading to Iowa State.

Per the Toledo Blade, Campbell accepted an offer to be the Cyclones' new head coach late Saturday night. Campbell would succeed Paul Rhoads as Iowa State's coach. Rhoads coached his final game with the Cyclones on Saturday in a loss to West Virginia.

Toledo had offered to make Campbell the highest-paid coach in the MAC.

From the Blade:

“We think very highly of Matt Campbell and have made him a very generous offer to keep him as our head football coach,” O'Brien said in a text message.

The Rockets' offer was for more than $800,000 in total, a different source said, but ISU's offer "significantly" trumped Toledo's.

Iowa State will pay Campbell's $200,000 buyout, and the Rockets will begin the evaluation process for a new coach immediately.

Sports Illustrated had previously reported that a deal between Campbell and ISU could be consummated over the weekend. Campbell was considered a possible candidate at Missouri. The Tigers are looking for a new coach after the retirement of Gary Pinkel.

Toledo beat Iowa State 30-23 in Week 2.

Campbell, 36, is 35-15 as Toledo's head coach. He succeeded Tim Beckman after the former Illinois coach headed to the Big Ten and has led the Rockets to three nine-win seasons. The Rockets, 9-2 in 2015, lost to Western Michigan on Friday to lose a shot at the MAC West title and a rematch with Bowling Green in the MAC Championship Game.

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Nick Bromberg
is the assistant editor of Dr. Saturday on Yahoo Sports. Have a tip? Email him at nickbromberg@yahoo.com or follow him on Twitter!