The NCAA handed down its punishments for Penn State on Monday morning, in the wake of the Jerry Sandusky child sexual abuse scandal and the efforts to cover it up. It was a long list of sanctions for Penn State, but it was not the so-called "death penalty."
The school will be forced to pay a $60 million fine, the equivalent of one year's gross revenue. That money will be placed in an endowment to support victims of child sex abuse as well as prevention initiatives throughout the country.
The football program was also hit hard by the NCAA. Penn State received a four-year bowl ban, preventing the football program from playing in any college bowl games during that time. In addition to that measure, the school will lose scholarships, 10 in the first year and 20 every year after that. Players will be allowed to transfer to another school without penalty.
Penn State will also be on probation for five years.
They did not get a television ban from the NCAA as part of the punishments.
The NCAA punishments also hit the record books. All wins from 1998 through 2011 have been vacated, dropping Joe Paterno to eighth on the list of wins for Division I head coaches. That takes 112 of Paterno's 548 career wins off the books. Bobby Bowden is now the all-time leader for wins at that level.
Officials from the school have signed off on the NCAA punishments, surrendering the opportunity to appeal.
In addition to the punishments from the NCAA, the Big Ten will announce punishments for the school later on Monday. There are also investigations and likely consequences from the U.S. Department of Education and other government agencies.