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Watch Full Announcement: NCAA Hands Penn State Penalty Following Sandusky Case

By: Aaron Carnal

Updated: July 25, 2012

BREAKING: The NCAA's penalties against Penn State include a fine of $60 million dollars, which will be used to set up an endowment to benefit victims of child abuse, a ban on bowl games for 4 years and a cut in scholarships from 25 to 15 for four years.

The NCAA vacates all wins the school earned from 1998 to 2011, the time of abuse. The school's record will be changed to reflect that.

The NCAA will also implement other corrective actions.

These actions come in the wake of the Jerry Sandusky sex abuse scandal and the University's handling of the situation.

Eyewitness News carried the announcement live on Local 7. We'll have more information coming up on Eyewitness News.

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