LOUISVILLE, Ky. (WHAS11) – A longtime supporter of UofL Athletics Director Tom Jurich and basketball coach Rick Pitino telling us this latest investigation is a watershed moment for the university and its fans.

"This is certainly not the kind of event we anticipated in any way," Bill Stone said.

He's a former trustee and current UofL athletics board member. He stopped short of calling for the firing of Pitino and Jurich, but he hopes the university acts quickly and thoroughly in whatever decision is made about the future of the basketball program.

"We shouldn't have a rush to judgment, but a rush to judgment doesn't mean you take forever. It means you need to carefully consider it. It may only take a day or two to consider it, but you have to carefully consider it," Stone explained.

Stone says he's embarrassed by the allegations against the university, including a pay for play scheme involving a former 5-star basketball recruit. The F-B-I complaint alleges $100,000 was promised to the boy's family in exchange for his commitment to play for UofL, funneled through an executive from Adidas. Stone says the influence of outside businesses, and their endorsements on collegiate sports, pose a great risk of creating harm.

"Whether it be Nike, Adidas, Under Armour, I think they are too influential generally across America, at all universities," he said.