The NCAA's Mark Emmert announced this morning that they will be imposing the following sanctions on Penn State University:
- A $60 million fine -- which will be used to establish an Endowment for victims of sexual abuse
- A four-year ban from any post season play for Penn State football
- A reduction of scholarships -- only 15 scholarships per year for the next four years
- All wins have been "vacated" from 1988 through 2011 -- dropping Joe Paterno's all-time wins from 409 to 298, dropping him from the #1 spot on the career all-time wins list to #12
- Six bowl game wins and two Big Ten Conference championships will also be erased from the Penn State record books
- Penn State's Athletic program will be put on NCAA Probation for a period of five years and must work with an "athletic-integrity" monitor of the NCAA's choosing during that period
- All Penn State football players will be able to TRANSFER to a school of their choosing and be eligible to play IMMEDIATELY
- And, the NCAA has reserved the right to conduct their own formal investigation after the legal process has taken its course -- to pursue actions against individuals involved...
The Big Ten Conference will be announcing their sanctions against Penn State University in a press conference slated for 11 AM ET today.
LINK: VIDEO OF MARK EMMERT'S NEWS CONFERENCE
LINK: ESPN STORY
LINK: LOU HOLTZ'S REACTION
LINK: MIKE GOLIC AND MIKE GREENBERG REACTION
