Penn State was not given the so-called "death penalty," which would have meant a suspension in the football program for a year or more. Emmert said that, "Suspension of the football program would bring with it significant unintended harm to many who had nothing to do with this case. The sanctions we have crafted are more focused and impactful than that blanket penalty."
The penalties handed down will likely have a long-lasting impact on the school and the athletic programs.
The punishments issued by the NCAA include:
4 Year Ban on Bowl Games
This means Penn State will not be able to participate in any postseason games, which includes bowl appearances as well as the Big Ten Championship Game, through the 2015-16 football season.
Loss of Scholarships
Every NCAA Division I FBS football program, like Penn State, is able to have 85 players under scholarship at any given time. Schools can add 25 scholarship players each year, as long as the total number of scholarship players remains at or below 85. Penn State will lose 10 scholarships per year for the next four years and will only be able to have 65 players under scholarship at a given time. This means that they will be able to add 15 scholarship players a year during that time, provided that the total number of scholarships remains under 65. Emmert said that any current or entering athlete may transfer to another university without sitting out a year. Current players will be able to keep their scholarship as long as they remain eligible.
$60 Million Fine
The NCAA is fining Penn State $60 million, which is equivalent to one year's football revenue at the university. Penn State will put $12 million a year for the next five years into a special endowment created to fund programs for the detection, prevention and treatment of child abuse.
The NCAA announced that Penn State will vacate all 112 wins from 1998 through 2011 and the records will reflect the changes. 111 of those wins came under former coach Joe Paterno, which will give him 298 wins during his coaching career.
The NCAA placed Penn State on probation for five years.
In addition, the NCAA announced that they reserve the right to initiate a formal investigation and disciplinary processes to impose sanctions, as needed, for individuals in the case after any criminal proceedings are completed.
Penn State President Rodney Erickson agreed to the sanctions. The full document of the sanctions can be viewed on the NCAA's website.