UNC Head Coach Larry Fedora was the offensive coordinator for the Cowboys from 2005-2007, when some of the alleged violations took place.
On Wednesday, Fedora addressed the allegations from the UNC campus.
"It was shocking," Fedora said. "They're allegations and accusations."
The Sports Illustrated article released Tuesday, includes testimony from eight former OSU players. They say the NCAA violations took place from 2001-2011.
The report claims players received money from assistant coaches and boosters. One player is quoted as saying it was just like when you work, the better you do, the more you get paid.
There have been allegation in the past of UNC players receiving improper benefits from agents. Just last week, a warrant released in Orange County said sports agents provided more than $20,000 in cash and benefits to former Tar Heels receiver Greg Little in 2010.