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Louisville Basketball will be fined $15 million and have 2013 title forfeited, per report

That’s a hefty punishment from the NCAA.

NCAA Basketball: Louisville at Georgia Tech Jason Getz-USA TODAY Sports

Dan Dakich began teasing this morning that he would drop a bomb on the University of Louisville on his radio show this afternoon. Around 2:00 p.m. on 1070 “The Fan” in Indianapolis, he shared that he has learned the fate of Louisville’s appeal to the NCAA.

Dakich said he has heard from a source that was told from someone “inside the room” that Louisville’s appeal to the NCAA of the sanctions, levied last fall from the stripper scandal (because we have to specify which scandal this particular sanction is for), has been completely denied. Louisville will forfeit their wins from the 2012-2013 season, including the 2013 national championship. They will also be fined $15 million.

Vacating a championship has never been done in Division I basketball, and this would be a huge blow to UL in a myriad of ways. One way is that they would have to pay back as much as $15 million in fines, according to Dakich, for money issued to the University during their title run.

The University of Louisville insists that they have received no official word from the NCAA, and released this announcement after Dakich shared the news on his radio show: “This is pure speculation. The NCAA will contact the university in advance of any announcement regarding the appeal. We have not been contacted by the NCAA.”

According to Dakich’s source, the official decision will be handed down to Louisville later this week.

If this news is true, are you surprised that the NCAA took such a strong stance against the Cardinals? Or did they get what they deserved?