"I don't know a lot of specifics," said OSU athletic director Mike Holder. "“I know a little bit. I know enough to be very concerned."
The series is the culmination of a ten-month investigation, interviews with 64 former players who were on the team between 1999 and 2011, and interviews with current and former staff.
The article alleges OSU built an elite team over the last decade through academic improprieties, player payouts, booster payouts for work not performed, lax drug monitoring, and a hostess program that provided recruits with sex.
Allegations are directed both at former head coach Les Miles and current coach Mike Gundy, who was promoted from offensive coordinator in 2005.
“As the athletic director at Oklahoma State and an alumnus of Oklahoma State University, I don’t want to believe that it’s true," Holder said in a statement Monday.
"Our goal is to separate fact from fiction and then we can start dealing with it,” Holder said. “We’ve already notified the NCAA and they’re going to assign an investigator to this."
"You're not going to like what you hear. It's going to be a rough few days, but our hope is that you may not be proud about what's being said about you, but we hope to make you proud of the way that we deal with it and how we stood up, didn't make any excuses and didn't try to cover anything up."
Part one, titled "The Money," was published Tuesday details players' admissions of receiving cash bonuses. Some players received between $2,000 and $10,000 annually, with others allegedly receiving up to $25,000.
Former cowboys even reported locker room payouts right after big plays. The amounts would vary, from $50 to $500, passed from coaches and staff to players in stuffed envelopes. Wednesday, Thursday and Friday, Sports Illustrated will publish "The Academics," "The Drugs" and "The Sex" respectively.
Celebrity Families of 2014 [PHOTOS]