Source: Franklin agrees with Vandy

Maryland offensive coordinator James Franklin has agreed to terms with Vanderbilt and will be announced Friday as the Commodores' head football coach, a source told ESPN's Chris Low.

Vanderbilt vice chancellor David Williams told The Associated Press on Thursday evening that he's closing in one person in his search for a football coach in a deal he hopes to have concluded by the end of the weekend.

"I'm anticipating [Franklin being hired]," Maryland head coach Ralph Friedgen told ESPN.com on Tuesday night. "I talked to him this morning, but it hadn't been finalized. Life goes on. I wish him the best of luck. I think he did a great job for us. I congratulated him. I've got to see what the fallout is and go from there."

Had he remained at Maryland, Franklin would have been owed $1 million if he was not named the Terrapins' head coach by January 2012.

Franklin had been Maryland's offensive coordinator and play-caller the past three seasons.

A source told ESPN.com on Monday that the Commodores had pursued Auburn Tigers offensive coordinator Gus Malzahn, who ultimately decided to stay with the Tigers.

Malzahn was making $500,000 under his old contract and will more than double that with a new multiyear deal offered by Auburn, which will pay him in the range of $1.3 million per year, the source said.

Vanderbilt is trying to replace Robbie Caldwell, who was forced to resign Nov. 27 at the end of a 2-10 season.

ESPN.com's Heather Dinich and Chris Low contributed to this report. Information from The Associated Press was also used in this report.