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 ...
60 million. My goodness I didn’t know buggery could be sucha good business haul.
Me thinks it’s more the NCAA finding a weak excuse to fill the expense accounts of its executives.
And then they can move on to a campus yard sale...and sale it piece by piece...and then donate all proceeds to Sandusky's victims...
That’s more than Penn State is worth.
A weak excuse???
If ya wanna 'cuse the NCAA of finding an excuse, be my guest. But this is no weak excuse...pretty strong reasoning behind it.
Wonder if obamma can figure a way of getting the bulk of the moola as a campagin contribution
Penn State 2011 endowment: 1.83 Billion
The NCAA should just clip off the East side of the Big 10...’tween Penn State and the University of Indiana’s cover-up and pedo sexploitation of those linked with Kinsey’s “researchers”...the Big 10 is one THE most embarrassing presence in the NCAA today.
Increased sport ticket sales or let me guess, taxpayers in the long run...
Death penalty for paying players.
Money payoff for raping children.
NCAA is a joke.
why is the NCAA fining and punishing students who had nothing to do with it?
why isn’t this a CRIMINAL case 100%?
bingo....if you’ve ever dealt with the NCAA or played big time IA sports (i have) you know how full of sh!t the NCAA is...
they will use the Sandusky affair to fill their own bank accounts and may give a pittance to the victims or victims groups to make themselves feel better...
I’m waiting for Brian Ross to report that the Tea Party had some involvement in this.
The NCAA wants to get some money before the lawsuits start coming in. It might be one thing if it were to distribute the money among the victims, but they won’t. Instead they’ll just set up some self-serving program and wave it before a gullible public who will think that they are actually doing something.
They’ll just raise tuition and screw the students.
More than just Sandusky need to go to jail for this.
PA Ping!
If you want on/off the PA Ping List, please freepmail me. Thanks!
You know, an Ivy League degree has usually wielded a higher price tag than degrees from other universities.
Well, the reverse is NOW true (from here on out) re: Penn State. If you show lack of discernment and pay tuition to Penn State -- Ped U -- then you're essentially "buying" a degree whose value has just been "yard saled." You're buying a degree that's not just been tossed in the toilet, but tossed in the sewer!
So, ANY students continuing on @ Penn State -- or about to at some point join the Nittany Lion bandwagon -- have of their own volition ... minus anything the NCAA does or doesn't do ... an extremely "discounted" degree (in the eyes of the public & hiring managers).
Penn State needs to simply dwindle...and go away...
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.