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Head coach Rick Pitino and athletic director Tom Jurich out at Louisville

Louisville men's basketball coach Rick Pitino is out, a source tells ESPN's Michael Eaves.

Athletic director Tom Jurich is also out at Louisville, a source tells ESPN's Jeff Goodman, after the program was linked to a federal investigation into fraud and corruption in recruiting.

Jurich and Pitino met Wednesday morning with Louisville interim president Greg Postel. After the meetings, Postel informed reporters that the school would hold a news conference at 1 p.m. and noted Pitino and Jurich would not attend.

On Tuesday, 10 men -- including a top Adidas executive and four assistant coaches -- were charged with using hundreds of thousands of dollars in bribes to influence star athletes' choice of schools, shoe sponsors, agents, even tailors.