Major NCAA sanctions are headed to Happy Valley, and while the death penalty is off the table, sources say the football program could be facing something much worse. Major scholarship losses are expected, as is a lengthy bowl ban. Penn State will also have to pay a hefty fine as well, somewhere between $30 million and $60 million, according to reports.
That money will reportedly go towards an endowment for children's causes. Considering that PSU brought in $116 million in revenue during the 2010-11 school year, the fine represents no small chunk of change.
NCAA president Mark Emmert will officially announce the penalties at 9 a.m ET on Monday. He has come under fire for his decision to levy punishment unilaterally, foregoing the standard months-long investigation. Emmert's decision is based entirely on the Freeh Report commissioned by Penn State released last Thursday.