08:54 AM - July 23, 2012 by MMChrisS
The penalties are in. In what was unprecedented and swift action against Penn State University (which Penn State fully agreed with), the NCAA did the following:
- Four Year Postseason Ban
- Reduced Scholarships to 65 total over the next four years -- making Penn State a functional FCS team.
- $60 million fine, or one year gross revenue from the football program.
- Any player can freely transfer to another school without penalty.
- All wins vacated from 1998 to 2011.