Louisville interim President Dr. Greg Postel announced that Louisville had lost its appeal and the University must vacate all games which includes ineligible athletes between 2011 and 2015.
Dr. Postel said, "I cannot say this strongly enough - we believe the NCAA is simply wrong in this decision."
The decision, which likely includes the 2012 Final Four and 2013 NCAA Championship banner, puts the onus on the University to determine which games should be vacated over the time period.
Interim Athletic Director Vince Tyra said, "During this process my emotions went from mad to sad. ... I'm sad for our players and I'm sad for our staff who helped create the success. I'm sad for our fans who enjoyed this success... I know they are going to be highly disappointed in this."
The Cardinals' 2013 NCAA Championship was part of a four-year period of games the NCAA targeted for vacation as punishment for the Katina Powell-Andre McGee scandal which found a Louisville staff member (McGee) paid for parties with strippers coordinated by Powell during on-campus parties.
The parties, put on by McGee in an attempt to lure potential recruits, happened over that four-year period and involved at least a few members of the 2013 National title team.
Multiple players on that team have claimed no knowledge of the parties, but others (whose eligibility was complete) did not cooperate with the NCAA investigation. The NCAA's ruling was that Louisville was responsible for the violations.
In a remarkable move, Louisville chose to self-impose penalties in the 2015-16 season, withholding its team from the NCAA tournament. The school imposed other restrictions as well that were added to by the NCAA Infractions Committee in June of 2017.
Those additional penalties, which UofL termed "grossly unfair" and "excessive," required the University to vacate four years of wins, return millions in revenue from NCAA Tournament appearances and remain on probation.
Louisville appealed that decision and Tuesday's NCAA decision was the final step in that appeals process.