Ohio State suspended football coach Jim Tressel for the first two games of the 2011 season after the school self-reported a major rules violation to the NCAA on Tuesday. Tressel failed to notify the school about information he received last spring concerning allegations of improper benefits involving two of his players.

Tressel will miss games against Akron and Toledo and was fined $250,000 by the school. Tressel’s total compensation in 2010 was $3.89 million according to his contract, which was obtained by USA TODAY.

As part of his punishment, Tressel also must attend a compliance seminar and was reprimanded by the school. The NCAA can impose further sanctions.

“We appreciate Ohio State University’s prompt response regarding this issue and we are committed to continuing our cooperative investigation,” NCAA spokesman Stacey Osburn told USA TODAY in an email.

In December, the NCAA suspended five players, including quarterback Terrelle Pryor, for the first five games of next season for selling championship rings, jerseys and awards to the owner of a Columbus, Ohio, tattoo parlor. Yahoo Sports reported Monday that Tressel knew about the allegations of improper benefits seven months before the university was notified by the U.S. attorney’s office as part of a broader investigation. Jan. 13, while reviewing an unrelated legal issue, Ohio State became aware of Tressel’s prior knowledge. After an internal investigation, the school notified the NCAA on Feb. 3 of the possible rules violations.

In a news conference Tuesday, Tressel said he did not notify school officials because he felt bound by the confidentiality required in a federal investigation. Given he knew about the allegations before the season, Tressel was asked why he allowed the two players to compete last fall. He said did not want to interfere with the federal investigation by drawing attention to the issue. “So if you all of a sudden sit down some players that have earned the opportunity to play, there’s a whole new set of questions that arise,” he said.

“I think that your No. 1 critic is yourself,” Tressel said, tears welling in his eyes at Tuesday’s news conference. “You spend time thinking about how you can do things better. I don’t think less of myself at this moment. I felt at the time as if I was doing the right thing for the safety of the young people and the overall situation.”

When Ohio State President E. Gordon Gee was asked if he considered firing Tressel, he said, “No. Are you kidding? I’m just hoping the coach doesn’t dismiss me.”

Ohio State already is appealing sanctions from an NCAA investigation that led to Pryor, running back Daniel Herron, wide receiver DeVier Posey, defensive end Solomon Thomas and offensive lineman Mike Adams being suspended for the first five games of the 2011 season.

Jordan Whiting was also suspended for one game in 2011 for receiving discounted services because of his status as a student-athlete.

It is unclear if the NCAA will come back and add to the school’s penalties because of Tressel’s admission.

According to a release, the school “became aware of this situation on Jan. 13, while reviewing information on an unrelated legal issue. The university’s Office of Legal Affairs notified the appropriate institutional officials and an investigation began immediately. After conducting additional fact finding, including questioning Tressel, the university notified the NCAA on Feb. 3.”

Athletics director Gene Smith said in the statement that he was “disappointed that we find ourselves in this situation.”

He said at the news conference that Tressel will remain coach.

“I think everyone knows how I feel about Jim Tressel,” Smith said. “There is no better coach at developing young people than Jim.”

Tressel was made aware in April that players, including Pryor, were selling clothing and other items to Edward Rife, owner of Fine Line Ink Tattoos in Columbus.

Ohio State released the emails that Tressel received from an unidentified person in April at the Tuesday press conference.

“I am sorry and disappointed this happened. At the time the situation occurred, I thought I was doing the right thing,” Tressel said in a statement. “I understand my responsibility to represent Ohio State and the game of football. I apologize to any and all of the people I have let down. I will grow from this experience.”

Yahoo! Sports said a person, whom it did not identify, reached out to Tressel with the information. Tressel admitted at the news conference that he was notified and said he should have notified someone at the school.

At that time the suspensions were announced in December, Tressel and the school said they did not know of the violations until earlier that month.

This isn’t the first time Tressel has run into trouble with the NCAA. Former Ohio State players Troy Smith and Maurice Clarett were suspended for receiving extra benefits in recent years.