Penn State NCAA Sanctions: Four-Year Bowl Ban, Vacated Wins, $60 Million Fine, Significant Scholarship Reductions

The NCAA has announced its punishment of Penn State at a press conference in Indianapolis:

• A $60 million fine, with the proceeds going to an endowment fund for victims of sexual abuse.

• A four-year bowl ban.

• Vacated all Penn State victories from 1998 to 2011.

• A reduction of annual scholarships from 25 to 15 for four years. Current players will be permitted to transfer and have immediate eligibility elsewhere.

• Five-year probation in which the university will have to work with an NCAA monitor.

NCAA president Mark Emmert said Penn State has signed a consent decree and will not appeal. More to come.