Michigan imposed a postseason ban on its men's basketball program for 2003 (not that they were going anywhere anyway!)
They also forfeited all victories from four seasons.
"Workers took down four banners from the ceiling of Crisler Arena -- the 1992 and 1993 NCAA finalist flags, the 1997 NIT Championship banner, and the 1998 Big Ten Tournament title."
"Michigan also said it would return to the NCAA $450,000 -- money it earned for appearing in the postseason."
Read more here.