After learning it would be banned from the postseason for the next two years, the USC football team did receive one positive piece of news. It will be allowed to keep its AP title.

Despite not participating in the national championship game, AP voted USC No. 1 at the conclusion of the 2003-2004 season.

The team is in jeopardy of losing its BCS national title. USC defeated Oklahoma in the BCS title game on Jan. 4, 2005.  BCS executive director announced Thursday the presidential oversight committee would soon decide whether the Trojans should lose this title. This could mean there will be no NCAA champion for the 2004-2005 season.

USC was handed a number of sanctions Thursday, which besides the two-year postseason ban include a loss of 10 scholarships over each of the next three years and a four-year probation term. The team will also have to forfeit 14 wins from December 2004 through the entire 2005-2006 season.

After the punishments were handed down, USC junior and senior football players learned they will be allowed to transfer to other schools without having to sit out a season.

“The second school would have to submit a waiver asking to waive the year in residence, but NCAA rules allow for this waiver to be granted if a student-athlete’s first school has a postseason ban in their sport,” according to NCAA spokeswoman Stacey Osbum in an e-mail to ESPN’s Joe Schad.

However, the Pac-10 will not allow these USC players to transfer within the conference without having to sit out a year, a USC official told ESPNLosAngeles.com.

USC’s penalties stem from a four-year investigation regarding former running back Reggie Bush. Bush and his family allegedly received improper benefits from two sports marketers. The NCAA declared Bush to be an ineligible player starting at least in December 2004.