Rick Pitino, Louisville AD under leave following FBI probe into NCAA fraud and corruption

Rick Pitino's legacy in basketball may be left in disgrace following his firing and reported connection to fraud and corruption.

(Photo/Rich Barnes/Getty Images)

Louisville basketball's Hall of Fame coach Rick Pitino has reportedly been fired after 16 years at his position following news of an FBI probe into the National Collegiate Athletic Association and allegations of fraud and corruption.

Louisville's athletic director, Tom Jurich, has also reportedly been fired.

Pitino has reportedly been placed under unpaid administrative leave for one year, according to CNBC, while Jurich has been placed under paid administrative leave. Both have reportedly been fired or in process of being fired, however.

Pitino has been the largest name connected to the FBI probe.

In total, at least 10 individuals had been arrested and charged with fraud and corruption, including four NCAA assistant basketball coaches.

Those coaches charged were Arizona assistant Emanuel Richardson, Auburn associate head coach Chuck Person, Oklahoma State assistant Lamont Evans and Southern California assistant coach Tony Bland.

Investment advisor Munish Sood, clothing manufacturer Rashan Michel, Adidas executive James Gatto and two other people affiliated with Adidas were also charged.

The FBI described the bribery scheme it had been investigating since 2015.

Joon Kim, the acting U.S. attorney for the Southern District of New York had announced Tuesday that "we announce charges of fraud and corruption in the world of college basketball."

Kim also stated that companies like Adidas had been "secretly funneling cash to the families of the recruits".

The scheme described would involve managers and advisers from clothing, mainly shoe companies, like Adidas, bribing coaches to lure players into signing with those agents.

Also, as Kim explained, another scheme involved agents directly bribing the families of the players to incentivize signing with them.

This investigation has once again sparked the controversial rule that college basketball players cannot be paid, despite providing millions of dollars to their schools in ticket sales and other funding associated with their athletic teams.

The "amateurism" of all collegiate sports in the NCAA has remained a hot topic for years, and this investigation's findings only further fuels troubles for the NCAA.

The NCAA had ceased producing licensed video games with EA Sports and 2K Sports following a federal lawsuit filed by Ed O'Bannon, a former college basketball player.

O'Bannon argued that the NCAA had licensed the rights to college players' likenesses without permission.

Ever since, the amateurism and system of money making of the NCAA has been deeply criticized.

Along with the arrests, five-star Louisville prospect Brian Bowen has reportedly been indicted and suspended indefinitely from basketball activities following suspicious actions following his commitment to Louisville.

Bowen had originally been officially interested in 12 different schools and later narrowed his list to six.

After making official visits to all schools and waiting late into the normal signing period, Bowen suddenly decided to attend Louisville without having made any visits, which raised red flags to many in the recruiting business.

Rick Pitino, one of the most decorated, respected and richest coaches in NCAA basketball history, (with a $5 million salary and a contract that was extended in 2015 until the end of the 2025-26 season) has perhaps had his reputation tarnished following his departure from his role as Louisville's head coach for basketball.

Louisville will reportedly announce their interim head coach in the next 48 hours.