The Louisville Cardinals men's basketball program has removed itself from eligibility for all postseason activity in 2016, a school source confirmed to CBS Sports on Friday afternoon.
Shortly thereafter, Louisville held a press conference to confirm the news.
"Based upon the available information gathered by the NCAA enforcement staff and the University of Louisville, I've determined it was reasonable to conclude that violations had occurred in the men's basketball program in the past," school president James R. Ramsey said.
Louisville is currently enduring an NCAA investigation that was brought on by the allegations of a self-described madame who wrote a book last fall detailing numerous alleged incidents with paid dancers and escorts who involved themselves with former Louisville basketball players and recruits from 2010-2014.