(Louisville, KY) -- It appears Rick Pitino is out as Louisville's men's basketball coach. Multiple reports say Pitino was fired this morning after allegations of fraud and money laundering in his program. Pitino's attorney Steve Pence told the "Courier-Journal" today that the coach has been placed on administrative leave, but has been "effectively fired." Federal prosecutors yesterday announced a sweeping investigation into college basketball, specifically that coaches steered players to agents and took money from shoe companies to pay players. The University of Louisville is among the schools under investigation.
Louisville is already on probation, and Pitino was facing a suspension following a sex scandal investigation involving his players.