GO
Loading...

NCAA Slams Penn State With Unprecedented Sanctions

AP
Monday, 23 Jul 2012 | 9:26 AM ET

The NCAA has slammed Penn State with an unprecedented series of penalties, including a $60 million fine and the loss of all coach Joe Paterno's victories from 1998-2011, in the wake of the Jerry Sandusky child sex abuse scandal.

Penn State student Laura Lovins and others react to the sanctions the NCAA announced against Penn State in the HUB on the campus of Penn State on July 23, 2012 in State College, Pennsylvania.
Getty Images
Penn State student Laura Lovins and others react to the sanctions the NCAA announced against Penn State in the HUB on the campus of Penn State on July 23, 2012 in State College, Pennsylvania.

Other sanctions include a four-year ban on bowl games, and the loss of 20 scholarships per year over four years.

NCAA President Mark Emmert announced the staggering sanctions Monday at a news conference in Indianapolis. Though the NCAA stopped short of imposing the "death penalty" — shutting down the Nittany Lions' program completely — the punishment is still crippling for a team that is trying to start over with a new coach and a new outlook.

Sandusky, a former Penn State defensive coordinator, was found guilty in June of sexually abusing young boys, sometimes on campus.

Featured

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • CNBC's David Faber and Carl Icahn, chairman, Icahn Enterprises, discuss corporate boards, a dysfunctional system, his impact as an activist investor and why what he does is important, as well as the use of poison pills to fend off activists. He also finds himself in the unusual position of defending Bill Ackman's recent efforts to partner with Valeant and acquire Allergan.

  • Discussing new technology in the Permian, growing market in North America, and higher earnings, with Dave Lesar, Halliburton chairman, president and CEO.

  • Paul Raines, GameStop CEO, discusses how its leadership in digital sales, market share, and ability to drive loyalty with rewards propels consumers to stay with the gaming store.