Penn is targeting former Iowa coach Fran McCaffery, a person with direct knowledge who was not authorized to speak for the school said Tuesday night.
“Not done, but close,” the person said.
The news was first reported by Sam Federman.
McCaffery, who was fired by Iowa after 15 seasons, replaces Steve Donahue after the Quakers went 8-19 in his ninth season on the job.
McCaffery, 65, spent 15 seasons at Iowa, compiling a 297-207 record with seven NCAA Tournament appearances, but failed to lead the program to the Big Dance for a second straight season.
Prior to that, he coached at Siena, UNC Greensboro and Lehigh.
He was replaced at Iowa by former Drake coach Ben McCollum.
Penn was the second Ivy League school to make a coaching change after Columbia hired former Florida assistant Kevin Hovde.