Penn State Hit With Heavy Penalties From NCAA
NEW YORK (TheStreet) -- The NCAA levied heavy sanctions against the Penn State football program in light of the child sex abuse scandal involving former assistant coach Jerry Sandusky.
The NCAA slapped Penn State football with a $60 million sanction, vacation of all wins since 1998 and a four-year postseason ban.
"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 NCAA said in a statement.
-- Written by Joe Deaux in New York.>Contact by Email. Follow @JoeDeaux
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV