Just the football program. I wonder how much might be in other endowments.
Posted on 07/22/2012 5:38:52 PM PDT by Zakeet
The NCAA will fine Penn State at least $30 million and perhaps as much as $60 million for its involvement in the Jerry Sandusky scandal, industry sources told CBSSports.com's Brett McMurphy.
The record fine will go toward an endowment for children's causes, sources said.
"This is a fine like no fine before," an industry source told CBSSports.com.
CBSSports.com's Dennis Dodd has reported Penn State will face "significant penalties that could severely damage the football program's ability to compete" when the NCAA announces sanctions against the football program at a 9 a.m. news conference Monday.
To put the fine in perspective, Penn State's athletic department had $116 million in revenue for the 2010-11 school year, the most recent data available according to figures from the U.S. Department of Education's Equity in Athletics.
A source told CBS News correspondent Armen Keteyian that Penn State will suffer "unprecedented" punishment for its collective failure to report Sandusky, recently convicted on 45 counts of sexual abuse, to the proper authorities.
"I've never seen anything like it," the source told Keteyian, indicating that both the football program and the school itself would face sanctions.
Per Dodd, a person with knowledge of the process said there is a way to impact Penn State's competitive ability in football without applying the so-called “death penalty.” That term could be mere semantics by the time the NCAA sanctions are announced according to a source. Penn State, the source said, may prefer the death penalty.
[Snip]
David Jones of the Patriot-News reported that regardless of the severity of the sanctions, "they will not be appealed or substantively challenged." According to Jones, the university is "desirous of a positive relationship with the NCAA in the future" and won't jeopardize that relationship with an appeal.
(Excerpt) Read more at cbssports.com ...
It was meant as a joke. Sorry I didn’t put the /sarc at the end.
It was meant as a joke. Sorry I didn’t put the /sarc at the end. But then, maybe it’s only worth 60 million. That 1.83 billion was sent into a black hole.
It is a criminal case. The former president of the University is going to jail... After his trial.
My bad, I should have figured that. Too much coffee today. :)
Just the football program. I wonder how much might be in other endowments.
Oh, with Penn State's personality cultists willing to open their checkbooks, this amount is a drop in the bucket. (Just chock it up as an "ante up" fee for Penn State's willingness to join THE pedophile conference)
No wurries - :)
I am a PSU fan. Have been since my youngest years.
PSU isn’t going to dwindle away.
It’s a great school. The Sandusky crimes, and those of the officials who didn’t do all they could to stop him, are the crimes of those who participated. Collective punishment stinks and any so-called ‘’conservative’’ who pushes collective guilt and punishment is welcome to kiss my lily white tookus.
Because a few dirtbags failed, are we to flog the entire community?
Let those who did the crimes do the time.
I am a PSU fan. Have been since my youngest years.
PSU isn’t going to dwindle away.
It’s a great school. The Sandusky crimes, and those of the officials who didn’t do all they could to stop him, are the crimes of those who participated. Collective punishment stinks and any so-called ‘’conservative’’ who pushes collective guilt and punishment is welcome to kiss my lily white tookus.
Because a few dirtbags failed, are we to flog the entire community?
Let those who did the crimes do the time.
It's part of their contract with the NCAA. Other sports leagues and teams also have fines for misbehavior.
It might not be enforceable if Penn State leaves the NCAA, but I don't see that happening.
BINGO! Penn State is the outhouse of the college football world. HOWEVER the NCAA is a corrupt institution. I want Penn State to pay ANYBODY but the NCAA. If $60 million is paid I say less than 10 percent will ever be used to benefit a victim.
Brian will find some TEA Party member named "Paterno" (no relation) and do some seven degrees of separation magic.
Kid's Homes, Kid's Programs, Kid's Centers
Just what we want is 60 million in the hands of a bunch of leftwing lunatic professors from Nambla.
When he heard about the amount, Kofi Annan said he and his son would "Gladly help in any way to manage these funds!"
“So where is the money going to come from to pay the fine?”
Federal government student loan racket, financed by guess whom?
Should be at least a two year death penalty for all sports. Anything less is a joke
They show no signs of remorse for what happened, only a digging in of their heels since their donations haven't fallen of.
If the NCAA hadn't gotten involved that statue would still be there.
So, I frankly don't want to hear whining from the PSU alumi who have constantly defended the school despite all the evidence that it's leadership, including Paterno were involved in a criminal cover-up.
The Alumi have no one to blame but themselves for these penalites.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.