"We will cooperate fully with the investigation and will assist authorities as needed, and if these allegations are true, will take the needed actions".
Obviously, this is not good news whatsoever for Pitino and the program as a whole, that goes without saying.
Keep an eye on this developing story, and we here at Busting Brackets will keep you updated as more news develops.
He foresees no impact on sales, but considers the charges a mere "black eye" for the company.
"By allegedly accepting bribes, the four coaches not only breached their obligations to their schools, violated NCAA rules and betrayed the trust of their players", Joon Kim, acting U.S. attorney for the southern district of New York, said at a Tuesday press conference.
"The picture painted by the charges brought today is not a pretty one", Kim said.
"Moreover, many such coaches have enormous influence over the student-athletes who play for them, in particular with respect to guiding those student-athletes through the process of selecting agents and other advisers when they prepare to leave college and enter the NBA", the complaints said.
While his name is not directly mentioned, recruit and current U of L freshman Brian Bowen was widely viewed as a surprise commitment when he announced on June 3 he was coming to U of L.
The other defendants in the FBI's case include Jonathan Brad Augustine, the president of the nonprofit The League Initiative; Merl Code, the head of Nike's Elite Youth Basketball League as of 2013; and Christian Dawkins, a former sports agent who was fired in May after being found to have charged $42,000 in Uber rides on an NBA player's credit card. Investigators say Person used a portion of the bribe money to pay off top recruits and their families.
"This is an achievement I never thought I would see in my lifetime", wrote Matt Powell, sports analyst at NPD, in a post about Adidas' sales increases earlier this month. "Quote he listens to one person". In my opinion, it's uncalled for, especially due to all the other things we have going on in the world, the people, the families, the people all across the world that's hurting, that need help, that need guidance from our house.
J. David Grissom, chairman of the university's board of trustees, declined to say during a telephone interview if he had spoken with U of L athletics director Tom Jurich or Postel. The adviser had previously paid bribes to Person, he added.
The university is not named, but based on the information provided, is most likely Miami, which entered a 12-year partnership with Adidas in 2015.