LSU has just announced that Will Wade has been suspended following an explosive Yahoo! Sports report claiming the FBI has a wiretap conversation of the coach discussing an “offer” made to a recruit with a former agent that has since been convicted and sentenced to prison time following an FBI investigation into corrupting in college basketball.

LSU released the following statement regarding Wade’s suspension:

“Recent media reports regarding Coach Will Wade are without question concerning to all of us. As such, we and university officials have taken deliberate and purposeful steps to fairly assess and adequately address this situation. As we have done since media reports first surfaced months ago, we are closely coordinating with the NCAA with every step. They have our full cooperation and we will continue to report to them all facts and information on this matter.

“All of us at LSU share the obligation to the integrity of this institution, as such we have suspended Head Coach Will Wade indefinitely until such time as we can ensure full compliance with the NCAA, as well as institutional policies and standards. Assistant coach Tony Benford will assume the duties of interim head coach.”

LSU is currently tied with Tennessee at the top of the SEC standings with only one game remaining in the season. The Tigers final game of the regular season is Saturday night at home against Vanderbilt. Tip-off is scheduled for 7:30 p.m. CT on the SEC Network.