From the Daily Beast: Penn State will be fined $60 million—one year’s worth of
revenue from the football team—which will go towards foundations to help
victims and the prevention of sexual abuse, the NCAA announced today. Its
football team will also be banned from bowl games and any other postseason
games for the next four years and the number of scholarships provided for Penn
State athletes will be reduced from 25 to 15 for the next four years. Any
students entering or returning on a scholarship will be given the option to
transfer schools. Also, any wins between the years of 1998 and 2011 will be
vacated. The NCAA president acknowledged the"death penalty," or
suspending the entire program, will not be used….
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