The NCAA has hit Penn State with a $60 million sanction, a four-year football postseason ban and a vacation of all wins dating to 1998, the organization announced Monday morning in a news release.
“These funds must be paid into an endowment for external programs preventing child sexual abuse or assisting victims and may not be used to fund such programs at the university,” the statement said.
The career record of former head football coach Joe Paterno will reflect these vacated records,” the statement continued.
All wins vacated from 1998-2011. Bobby Bowden is now all-time wins leader.
Penn State must also reduce 10 initial and 20 total scholarships each year for a four-year period, the release said.