Pitino Sorry for 'Indiscretion,' Gets to Keep His Job

University of Louisville basketball coach Rick Pitino said he's sorry for an "indiscretion" six years ago -- a reported sex act with a woman on a restaurant table -- and said he will keep coaching "as long as they'll have me."

University president James Ramsey then issued a statement saying the university was "ready to move on."

"Rick Pitino is the University of Louisville's basketball coach," Ramsey said. "He has been a role model for countless young people and a positive influence on this community."

Though Pitino gave few details of the "indiscretion" when he addressed the media Wednesday, he said he admitted what he did to his family and to the university and that he tried to handle the problem the same way he advises players to handle adversity.

"When you have a problem, if you tell the truth, the problem becomes part of your past," he said. "If you lie, it becomes part of your future.

"For as long as they'll have me, I'm going to coach here," he added. "I'm not a spring chicken, but I'm certainly not over the hill. I intend on recruiting the best athletes, the best people for this program."

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According to sports radio host Mike Greenberg of "Mike and Mike in the Morning," Pitino will not likely part with the school for quite a while.

"He'll be absolutely fine," Greenberg told "Good Morning America" today. "Your leash is as long as your track record and his track record is enormous... He's the face of the entire university. He'll weather the storm."

Louisville President 'Ready to Move On'

The statements came a after it was reported Tuesday that Pitino had sex on a table with a woman and then gave her $3,000 to help pay for an abortion.

Ramsey said Pitino's mea culpa was "the right thing to do."

"He's clearly made errors in judgment that have come under intense public scrutiny," Ramsey said. "We can't ignore these errors in judgment, and they have saddened and disappointed me. As we try to teach our students, when you make a mistake, you admit it and right it as best you can. Coach has done that today.

"We hope this closes this chapter," Ramsey added. "We're all ready to move on."

Earlier today, Ramsey did not seem as forthcoming with his words of support.

"I look to the athletic director to advise me," he said, adding at the time that they had not had a chance to consult yet. "So, until I have more information, it's unfair for me to speculate on anything else."