The NCAA stripped the University of Louisville of its 2013 national basketball title and mandated that the school must vacate 123 wins between 2011 and 2015, the organization said on its website Tuesday.
The Cardinals will become the first NCAA Division I men's basketball program to vacate a national title in the Final Four era.
"I can not say this strongly enough: We believe the NCAA is simply wrong", Postel said.
"While we disagree with the NCAA's decision, it is time for the university to close this chapter and move forward with a stronger commitment to excellence on and off the court", he said. "That is why we apologized immediately, cooperated fully with the NCAA, self-imposed penalties that were appropriate to the offenses and made significant changes to ensure incidents like this never happen again".
Former Louisville coach Rick Pitino has denied knowledge of the parties.
Pitino has plenty of connections to the New England and MA area, as he played at UMass and coached Boston University, Providence College and the Boston Celtics before arriving at Louisville. The university previously announced that 122 other wins were vacated due to a scandal that centered on the director of basketball operations providing players and recruits with escorts and prostitutes.
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They were subsequently cared for by the Thai state, while another four infants were deemed also to have been fathered by the same man.
In its appeal, Louisville argued that the penalties were "excessive", the NCAA said.
The NCAA penalties, which were announced on June 15, included the vacation of basketball records in which ineligible student-athletes competed from 2011 to 2015. Louisville later imposed scholarship and recruiting restrictions in an effort to mitigate further NCAA discipline.
WKYT will be live in Louisville this evening breaking down the NCAA sanctions and the impact it will have on the university.
No word yet on whether or not Pitino will be removing his now-famous tattoo following Tuesday's ruling. The NCAA also claimed that the director did not cooperate with the investigation.
"Like you, I believe the university needed to appeal the decision as strongly as possible", Postel said. The Louisville-Courier Journal reported.
Louisville argued in its appeal that the penalty was too severe based on its charges.