The University of Louisville and former basketball coach Rick Pitino have reached an agreement to “mutually dismiss their legal claims against each other.”

The news came out Wednesday during a UofL Athletic Association Personnel Committee meeting.

According to a joint statement from both Pitino and the school, his departure from the UofL basketball program will be designated as a resignation.

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The settlement agreement states that it should not be used as an admission of guilt for either UofL or Pitino. It also shows that neither will seek money from each other.

Pitino was coach for 17 years before he was fired back in 2017. The unanimous firing happened after the basketball program was implicated in a federal bribery and fraud investigation.

He sued the ULAA for more than $38.7 million, accusing it of breaching its contract by firing him. Louisville countersued, seeking monetary damages from vacated games and bonuses.

Flip the Page to See the Joint Statement: