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
Penn St sanctions - from CBS news leak
1) SUSPENSION OF FOOTBALL OPERATIONS FOR ONE YEAR
2) NO TELEVISION TIL 2015
3) BOWL BAN TIL 2015
4) NO FOOTBALL SCHOLARSHIPS FOR 2013
5) ALL CURRENT PLAYERS ON ROSTER ALLOWED TO TRANSFER WITH NO PENALTY
6) NCAA CLEARINGHOUSE TO EXPEDITE AND ADMINISTER ALL TRANSFERS
7) SPECIAL NCAA DISPENSATION THAT PENN ST FOOTBALL PLAYERS WHO TRANSFER, WILL NOT COUNT AGAINST SCHOLARSHIP LIMIT FOR GAINING SCHOOL
8) LOSS OF 8 SCHOLARSHIPS PER YEAR BEGINNING IN 2014 AND CONTINUING FOR 5 YEARS TO 2020.
9) BEGINNING IN 2014, OPTION TO DROP DOWN TO DIV 1AA WITH NO PENALTY, AND THE RIGHT TO RETURN TO DIV 1A AFTER 2020.
10) WINS AND RECORDS BACK TO 1998 WILL BE VACATED
11) TICKET REVENUE OFFSET PAYOUT TO BE GIVEN TO SCHEDULED OPPONENTS
Here's what State Penn's allegedly getting, if you go by this CBS leak.
More like solitary than DP which may he worse. If that's true, this will really hurt the B1G. I think this is a bad idea.
No idea if it's true or not, but those are pretty harsh. D1-AA?
Yeah I sincerely doubt PSU's program will be shut down for an entire season. That takes away the 12th team that allows that conference to have a championship game. Vacate wins, ban them from the postseason, strip scholarships, allow the current players to transfer without having to sit out, whatever. Don't punish the whole conference. That's dumb.
Last edited by COphinphan89; 07-23-2012 at 12:14 AM.
Yea no way thats real. PSU might as well just pack it in for good if that report is anywhere close to true.