he NCAA will fine Penn State at least $30 million and perhaps as much as $60 million for its involvement in the Jerry Sandusky scandal, industry sources told CBSSports.com's Brett McMurphy.
The record fine will go toward an endowment for children's causes, sources said.
"This is a fine like no fine before," an industry source told CBSSports.com.
CBSSports.com's Dennis Dodd has reported Penn State will face "significant penalties that could severely damage the football program's ability to compete" when the NCAA announces sanctions against the football program at a 9 a.m. news conference Monday.
To put the fine in perspective, Penn State's athletic department had $116 million in revenue for the 2010-11 school year, the most recent data available according to figures from the U.S. Department of Education's Equity in Athletics