Penn State Football slammed with NCAA sanctions

UNIVERSITY PARK, Pa. -- The NCAA dropped the hammer on the Penn State Football program on Monday.

The sanctions following the Jerry Sandusky sex abuse scandal are severe:

• A $60 million fine
  
• A 4-year ban on post-season games
  
• All wins from 1998 to 2011 will be stripped, meaning that Joe Paterno is no longer the winningest coach
  
• The loss of 20 scholarships per year for four years
  

The NCAA could have suspended the football program, but decided against the so-called "death penalty".

"Suspension of the football program would bring with it significant unintended harm to many who have nothing to do with this case," said NCAA President Mark Emmert.

Penn State agreed not to appeal the decision. The punishments come one day after the university removed a statue of Joe Paterno.