Penn State NCAA Sanctions: Four-Year Bowl Ban, Vacated Wins, $60 Million Fine, Significant Scholarship ReductionsDom Cosentino7/23/12 9:20amFiled to: Penn state scandalPenn State Nittany LionsCollege FootballDeath to the ncaaNewsTopAppic3202EditPromoteShare to KinjaToggle Conversation toolsGo to permalink The NCAA has announced its punishment of Penn State at a press conference in Indianapolis: Advertisement • A $60 million fine, with the proceeds going to an endowment fund for victims of sexual abuse.• A four-year bowl ban. Advertisement • 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. Sponsored NCAA president Mark Emmert said Penn State has signed a consent decree and will not appeal. More to come.