Penn State has been hit with a $60 million sanction, football team hit with four-year postseason ban, and vacating of wins from 1998 to 2011. The $60 million fine equals the one-year gross revenue of the football program. The funds will go toward endowment preventing child sexual abuse.
Any PSU football players can transfer and compete immediately compete.
Because all wins are vacated from Penn State from 1998-2011, Joe Paterno no longer NCAA career wins leader.
The four-year bowl ban comes with a loss of 40 scholarships over four years.
The NCAA also reserves right to initiate formal investigation/disciplinary processes after criminal proceedings
Its worth noting that Emmert said that the $60 million fine represents one year of gross football revenue. But Penn State, in government filings for 2010-11, reported it was $73 million.
Because the NCAA vacated 112 of Joe Pa’s 409 victories, that accounts for 27% of his wins.
Those 111 wins being taken away reduces his record from 409 wins to 298, which drops him to the 12th winningest coach in college football history.
The NCAA is considering waiving the scholarship limit for schools that accept PSU transfers.
Penn State’s punishment isn’t complete. The Big Ten conference will unveil it’s sanctions at 11 a.m. EST.