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Louisville Will Make A "Major Announcement" At Noon Today

Louisville's basketball court during a game.

LOUISVILLE, KY - NOVEMBER 25: A general view of the inside of the arena during the Louisville Cardinals game against the Ohio Bobcats at KFC YUM! Center on November 25, 2011 in Louisville, Kentucky. (Photo by Andy Lyons/Getty Images)

This afternoon, University of Louisville Interim President Greg Postel is set to make a "major announcement." The contents of the announcement aren't know, but there has been plenty of speculation in the past as to the possible punishment.

Louisville's scandal began with details of local madame Katina Powell's book Breaking Cardinal Rules, which detailed the sex parties thrown for Louisville basketball recruits. Powell alleged that former U of L assistant Andre McGee had been setting up the parties for for years, and that up to $10,000 was exchanged. Multiple former Louisville players and recruits admitted to attending the parties.

Former Louisville head coach Rick Pitino was hit with a Level 1 violation, the dreaded "failure to monitor." Not long after, Pitino was ousted by the university -- but not before filing a wrongful termination lawsuit.

The university was also hit with sanctions. In its list of penalties handed down to Louisville, NCAA officials announced it will vacate unspecified wins from between 2010 and 2014.

According to a report from earlier this year from college basketball analyst Dan Dakich, Louisville will be forced to vacate its 2013 title. And that's not all.

During his radio show, Dakich speculated that Louisville must vacate the title and will receive a $15 million fine. Louisville addressed Dakich's report, calling it "pure speculation."

Perhaps Postel's announcement will have something to do with Dakich's report, perhaps not. We'll keep you posted on the outcome of the noon press conference.