NCAA President Mark Emmert delivered heavy sanctions against Penn State University for their role in covering up the Jerry Sandusky scandal. Penn State will be fined $60 million dollars which will be used to set up an endowment to benefit and support victims of child sexual abuse. That amount equals the gross venue gained by the university from the football team for one season. They will be banned from bowls and all post season play for 4 seasons. All current players can transfer and play right away without sitting out a year. The school will also see reduced scholarships in each of the next four seasons. The NCAA also says that the school will vacate all football wins from 1998 to 2011. That will mean that the late Joe Paterno is no longer the all-time winningest coach in NCAA history. With Penn State and Ohio State both barred from the post-season this year, only Wisconsin, Indiana, Illinois, and Purdue will be eligible to win the Big Ten Leaders Division and play in the Big Ten Title Game.
Audio: NCAA President Mark Emmert delivers the news on Penn State. 1:49