"On paid leave indefinitely." You don't place a college HC on indefinite leave. You make a decision. To me, this looks like they're seeing if they can snag someone away from another job before they fire Petrino, and if they can't, they'll keep him.
He's carrying on an inappropriate relationship, with a girl half his age (nothing really wrong with that part alone), that he has career influence over, and then lied about circumstances of the accident to cover it up. I don't know how you don't fire him.