If Lofton ends up back on the team it means that it was about Plan G for Pitino and that doesn't bode well for the program. It's not as if Lofton is all that good. He's a marginal B1G player at best who has a lot of personal issues. The scholarship is far more valuable than the player.
It couldn't be more obvious that Pitino is a short timer. I think he's a talented guy who could do good things here if he wanted to stay but, in way, he's becoming an albatross for this program. Whenever there is significant uncertainty, good players don't want to come.
Give the job to Ben Johnson who is young, smart, a pretty good recruiter and he will stick around for a while.