Houston players TaShawn Thomas and Danuel House will be allowed to transfer from the program with restrictions.
Houston has hired NBA assistant and former college coach Kelvin Sampson to replace former coach James Dickey, the school announced.
James Dickey has resigned as coach of the Houston Cougars due to "private family matters," the school announced in a statement Monday.
Houston transfer Joseph Young is currently on a visit to Oregon and is scheduled to take a trip to Arizona in the next week, sources told ESPN.com.
Kirk Van Slyke scored 15 of his 17 points in the first half as Houston built a big early lead and held off No. 19 Central Florida 76-71 on Saturday, handing the Knights their first loss of the season.
After considering some well-known names, Houston made perhaps the most surprising hire of the season: James Dickey, a head coach again for the first time in 10 years.
James Dickey has been hired as Houston's basketball coach, putting him in charge of a program for the first time since he was fired from Texas Tech in 2001.