Penn State fined, banned from bowls, vacates wins

July 23, 2012

At a news conference on Monday morning, NCAA President Mark Emmert announced:

1. NCAA imposing a fine of $60 million on Penn State University
2. Penn State banned from bowls and postseason for 4 years
3. Scholarships reduced from 25 to 15 for four years
4. All Penn State wins vacated for 1998 to 2011.

The NCAA announcement came one day after Penn State took down its famed statue of Paterno, six months to the day since his death from lung cancer. The university said leaving it up would be a "recurring wound" for Sandusky's victims. An accomplished defensive coordinator, Sandusky was convicted of molesting young boys over more than a decade.

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