Dismissed from the team earlier this week for an undisclosed violation of team rules, Pitino, who met Friday morning with a remorseful Farley, said the former Pleasure Ridge Park standout will have the opportunity to return to the team if he lives up to the program's standards.
"Somewhere down the road he will be reinstated to our basketball team," Pitino said. "He is a nice young man who made some mistakes. It was not a big deal. Although we don't have it very often, players aren't late [in our program]. Lateness is a very big deal."
In order to receive another opportunity, Farley, according to Pitino, will pay the consequences for his mistakes.
"He is going to pay the consequences for his mistakes," Pitino said. "He will have a curfew for a couple of weeks and his mother is supportive [of these measures]. She's a neat lady and she's one of the reasons why I'm being so lenient with Terrance in this situation."
Farley, who has played in two of Louisville's first seven games, admitted his mistake and is happy to have another opportunity.
"I made a big mistake, one I'm very sorry for committing," Farley said. "I'm glad that I have the opportunity to get back on this team if I do the right things. Coach Pitino is a great coach and I enjoy playing for him. I know I let my teammates down. I look forward to the opportunity to prove myself to them, our coaches, my family and the U of L fans."