CNN Reporting Penn State's Penalties Incl $30 million Fine

[Stony157]

According to CNN:

Penn State University will be hit with fines in excess of $30 million as part of "significant, unprecedented penalties" expected to be announced Monday by the National Collegiate Athletic Association, a source familiar with the case told CNN on Sunday.

While the school's football program will not face the so-called "death penalty" that would have prevented the team from playing in the fall, the school might have preferred a one-year suspension because of the severity of the scholarship losses, postseason sanctions and other penalties, the source said.

"If I were Penn State or any other school and were given both options, I'd pick the death penalty," the source said, adding the range of sanctions "is well beyond what has been done in the past" and "far worse than closing the program for a year."​

Source: http://www.cnn.com/2012/07/22/us/penn-state-paterno-statue/index.html?hpt=hp_t1

 

[USNAVYCANE]

30 to 60 million

 

[UMFarArcher]

So who gets the money?

And that's it? Huge rich school just pays the money, stores the statue, and lets the rest go?

 

[Marcelo2988]

Hope that money is put to good use

 

[CaneInHeelCountry]

So who gets the money?

And that's it? Huge rich school just pays the money, stores the statue, and lets the rest go?

The football team reportedly brings in about 50 mil profit per year, which is used to pay for all the non-revenue sports as well as upkeep, coaches salaries, etc. So this would be akin to PSU sacrificing 1 year worth of football revenue.

And I'm sure that's not all. I'm sure there'll be serious schollie reductions, bowl bans, etc., as well as other penalties.

 

[4th-and-14]

NCAA is overstepping it's bounds here and creating some dangerous precedent in giving them even more unchecked powers.

 

[tcgrad1014]

NCAA is overstepping it's bounds here and creating some dangerous precedent in giving them even more unchecked powers.

The NCAA isn't a democracy. It's a dictatorship. They can do whatever they want to member institutions. If Penn State doesn't like it, they can drop out of the NCAA.

 

[canecountry3]

Emmert is doing this so that when Miami skates to public/media uproar he can point to Penn State and say they bring the hammer when necessary.

 

[BigPoppaCane]

Emmert is doing this so that when Miami skates to public/media uproar he can point to Penn State and say they bring the hammer when necessary.

REALLY?

 

[CaneInHeelCountry]

NCAA is overstepping it's bounds here and creating some dangerous precedent in giving them even more unchecked powers.

The NCAA isn't a democracy. It's a dictatorship. They can do whatever they want to member institutions. If Penn State doesn't like it, they can drop out of the NCAA.

Until the member institutions realize this is BS and rise up. There are a lot of experts out there saying that this is unconstitutional...I'm actually surprised that we haven't heard other schools voicing concerns over this.

 

[dycane]

I thought PSU would just take this on the chin until I read this. If true, no chance PSU accepts this penalty. There will be a lawsuit and PSU will win it.

 

[Dandycane]

I thought PSU would just take this on the chin until I read this. If true, no chance PSU accepts this penalty. There will be a lawsuit and PSU will win it.

Who brings the suit. PSU already signed off on it.

 

[jw410]

Sandusky guilty, ex-fbi head agreed with sandusky prosecutors.. I expect 2 yr bowl ban, 15 schollys, and 30 million fine. Fine will be reduced to 10mil plus lawyers fees on appeal.

 

[bomba]

That's a huge revenue machine. $30m to that program is not as disastrous as it would be to a small school like Miami.

 

[4Canes]

That's a huge revenue machine. $30m to that program is not as disastrous as it would be to a small school like Miami.

Agree, they'll get that covered by a few big donors and life will go on. **** Franco Harris would cover the whole thing if he could.