UPDATE 10-22 12:25PM
A sigh of relief from Miami Hurricane fans --the 6-and-0 Canes can play in a bowl game this year.
The news coming as the NCAA announces penalities from the Nevin Shapiro booster scandal.
The "U" will lose 3 football scholarships in each of the next 3 seasons and 1 basketball scholarship per year for the next 3 years.
The NCAA's Britton Banowsky says the investigation took almost 3 years because it was so complex.
U-M students are glad the saga is finally over.
U-M says it accepts the findings and will not appeal. You can read the rest of the statement here:
The NCAA began looking into the football and basketball programs after reports surfaced that players were given gifts and extra benefits from booster Nevin Shapiro, who is now serving a 20-year jail sentence for running an allegedPonzi scheme.
Former Miami basketball coach Frank Haith, currently the head coach at Missouri, was given a five-game suspension from the NCAA for his role, while former Miami assistant basketball coach Jorge Fernandez was slapped with a two-year show-cause penalty.
The good news is there is no bowl ban----The NCAA says the "U" will lose nine football scholarships over next three years.
The basketball program will also lose one scholarship in each of the next three years.
In addition, former basketball coach Frank Haith, who is now coach at Missouri, will be suspended five to seven games.
The NCAA will discuss its decision on a teleconference at 11 a.m. Miami officials will not comment until after that.
Today is the long-awaited Decision Day in the NCAA's investigation into University of Miami athletics.
The NCAA will announce Miami's punishment at 10 AM.
The ruling will come four months after the school went before the NCAA's Committee on Infractions and more than two years after the investigation began.
UM has already self-imposed two postseason bans among other sanctions. Many experts believe that will be enough to stave off a more severe punishment. John Infante, former compliance officer at Colorado State University and author of the Bylaw Blog, believes Miami will be hit with scholarship reductions and placed on a lengthy probation, but will avoid further postseason bans.
The NCAA began investigating UM in 2011 shortly before a bombshell Yahoo! Sports report revealed jailed Ponzi schemer Nevin Shapiro allegedly lavished UM athletes with impermissible gifts. The two-year investigation was pockmarked with controversies, including the NCAA's decision to pay Shapiro's lawyer in exchange for information from depositions.