The National Collegiate Athletic Association announced major penalties against Penn State University Monday, starting with a 60 million dollar fine.
The organization banned the school from any postseason bowl games for four years. Penn State also loses 20 football scholarships a year for four years; plus, all of the school's wins from 1998 through 2011 are vacated - stripping former head coach Joe Paterno of one hundred and eleven wins and the title of winningest coach in major college football.
The Paterno family released a statement against the NCAA's sanctions:
"The sanctions announced by the NCAA today defame the legacy and contributions of a great coach and educator without any input from our family or those who knew him best."
The NCAA's sanctions are a part of the fallout from the Jerry Sandusky child abuse scandal. Sandusky was convicted late last month on 45 of 48 counts related to the sexual abuse of 10 young victims.
Did these sanctions go too far, or was it not enough?
OutFront tonight: NCAA President, Mark Emmert. Tune to Erin Burnett OutFront at 7p ET.
NCAA gives Penn State 'stark wake-up call' with $60 million fine
Saying it is "a stark wake-up call to everyone involved in college sports," the National Collegiate Athletic Association announced a $60 million fine against Penn State University on Monday and took away 14 seasons of football victories from the late Joe Paterno.
The school was also banned from the postseason for four years and will lose 20 football scholarships a year for four seasons, NCAA President Mark Emmert said.
Emmert said the unprecedented fine will be paid over five years to fund programs that serve the victims of child sexual abuse.
The Big Ten Conference also acted Monday, ruling Penn State ineligible for its conference title football game and said the Nittany Lions share of bowl revenues for the next four seasons - approximately $13 million - will be donated to charities that "protect children."
The NCAA's punishments are part of the continued fallout from the child sex abuse scandal involving former assistant football coach Jerry Sandusky, who was convicted in late June of 45 of the 48 counts he faced involving 10 young victims.