Quote:
Originally Posted by HowSoonIsNow
The $60M fine will be used to create a fund for the victims of sexual abuse.
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I was thinking 60 million was excessive until I saw this on the NCAA website. Now that I know this is equivalent to 1 year of gross revenue for the football program, 60 million is not enough.
"The NCAA imposes a $60 million fine, equivalent to the approximate average of one year's gross revenues from the Penn State football program, to be paid over a five-year period beginning in 2012 into an endowment for programs preventing child sexual abuse and/or assisting the victims of child sexual abuse. The minimum annual payment will be $12 million until the $60 million is paid. "
I like that there were both sanctions and corrective actions involved here. And, that they arent finished yet.
"Individual penalties to be determined. The NCAA reserves the right to initiate a formal investigatory and disciplinary process and impose sanctions on individuals after the conclusion of any criminal proceedings related to any individual involved."
Very interesting reading to see the actual report.
http://www.ncaa.org/wps/wcm/connect/...20723/21207232