joe paterno

The late Joe Paterno, longtime head coach of Penn State football

*(Via Chicago Tribune) – The NCAA on Monday hit Penn State with a $60 million fine, banned the football team from bowl games for four years and vacated all of its wins from 1998 to 2011 in the wake of the university’s child sex abuse scandal.

At a morning news conference, NCAA president Mark Emmert said Penn State will lose 10 football scholarships initially and gradually be reduced by another 10, dropping their total to 65 for the 2013-14 school year.

Like EURweb on Facebook

All of Penn State’s victories from 1998 through 2011 will be vacated. Coach Joe Paterno’s record will reflect the vacated victories, meaning he no longer will be recognized as the NCAA’s all-time winningest coach.

The $60 million in fines will go toward a fund for victims of child abuse. Penn State also will be placed on probation for five years.The Big Ten has scheduled a teleconference for 10 a.m. CT to announce conference sanctions.

Read/learn more at Chicago Tribune.