Penn State football hit with $60 million fine

INDIANAPOLIS - The Associated Press

The sun sets behind Beaver Stadium on July 22, 2012 in State College, The statue was removed by workers after Pennsylvania. AFP photo

The National Collegiate Athletic Association has slammed Penn State with an unprecedented series of penalties, including a $60 million fine, for the Jerry Sandusky child sex abuse scandal.

Other sanctions include the loss of all coach Joe Paterno’s victories from 1998-2011.
 
NCAA President Mark Emmert announced the staggering sanctions Monday. Though the NCAA stopped short of imposing the "death penalty" - shutting down the football program completely - the punishment is still crippling for a team that is trying to start over.
 
Sandusky, a former Penn State assistant coach, was found guilty in June of sexually abusing several young boys, sometimes on campus.
 
The scandal shook one of the largest and most lucrative sports programs in the country.