LOUISVILLE (USA TODAY) - Rick Pitino is out as coach at Louisville.

ESPN and multiple outlets reported that Pitino was fired Wednesday.

Pitino and athletic director Tom Jurich had short meetings with interim President Greg Postel. A news conference is scheduled for 1 p.m. ET, and neither Pitino nor Jurich will be attending, Postel said.

There is language in Pitino's contract that says if he is to be fired for cause, he gets 10 days' notice and will have a chance to contest the decision. Since taking over as the University of Louisville's head basketball coach in 2001, Pitino's tenure has been marked by on-court successes and off-court distractions.

The latest is an FBI investigation that says a coach at a university matching Louisville's description paid a recruit's family to go there.

Pitino, who is the highest paid coach in basketball, makes nearly $7.8 million a year, according to USA TODAY's salary database. He has coached at the collegiate level at Boston University, Providence College, The University of Kentucky and Louisville. He also coached the New York Knicks and Boston Celtics in the NBA.

During his nearly 30-year coaching career, he has won 770 games at the college level, two national championships and made seven Final Fours. He was inducted into the Basketball Hall of Fame in 2013.

Statement from ACC Commissioner John Swofford
“The charges filed by the federal government surrounding a number of individuals associated with college basketball are alarming and disturbing. There are a lot of great people in college athletics, and these alleged actions undermine the individuals who have dedicated their careers to operating and conducting themselves with integrity and by the rules. We are still learning the facts surrounding the investigation and charges, but, if true, they are reprehensible and should be dealt with accordingly.”