NCAA May Fine Penn State Up To $60 Million

CBS, who initially reported that Penn State's punishment would be "unprecedented," is now reporting that the NCAA will fine Penn State at least $30 million and could fine the school as much as $60 million and create an endowment for "children's causes" with the money.

"This is a fine like no fine before," an industry source told CBSSports.com.

It is beginning to sound like the unprecedented punishment will be mostly monetary. It's already been leaked that the football program will likely not be suspended. Scholarship losses and bowl ineligibility were mentioned and now the possibility of a hefty fine exists.

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.

It would appear that the NCAA is doing everything it can to kill the Penn State program without actually killing it. Rather than a swift death, the NCAA is trying to starve Penn State. But there's no guarantee it will work. The NCAA is taking the evil-genius-bad-guy approach and just hoping the person trapped in the building they set fire to will die, rather than putting a bullet in his head. The rules imply the "death penalty" can only be used on programs already on probation, but the NCAA is already breaking protocol by foregoing its own investigation and relying on the Freeh Report. Why stop there?

Penn State had $116 million in revenue in one year, most of which was thanks to the football program—which is still active under this scenario. The school's alumni have already shown they will support the school in the worst of times— raising almost $208 million in donations even as they learned the worst about their former defensive guru.

What makes anyone think this support will waver? Yes, $60 million will be harsh, but if the football program is allowed to continue—and make money—how harsh will it really be? Sure, Penn State won't have a good team and won't be getting any bowl money, but that won't stop the faithful from rallying around the program. Nothing has yet.

Image via Getty NCAA could fine Penn State as much as $60M as part of Sandusky sanctions [CBS]