Speaking at a memorial service for Joe Paterno on Thursday, Nike chairman and co-founder Phil Knight earned thunderous applause and a standing ovation from the assembled crowd for remarks he made about the recently departed Penn State coach and about the university itself.

"If there is a villain in this tragedy," Knight said regarding Penn State's in-season firing of Paterno in the wake of sexual assault allegations against longtime Penn State assistant Jerry Sandusky, "it lies in that investigation. Not in Joe Paterno's response." Knight said Paterno did the right thing by informing his superiors of allegations against Sandusky, though some people have argued Paterno ought to have informed the police as well.

Knight paused for applause, and then said, "Who is the real trustee at Penn State University?"

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