ESPN:
The NCAA has hit Penn State with a $60 million sanction, a four-year football postseason ban and a vacation of all wins dating to 1998, the organization said Monday morning.
The career record of Joe Paterno will reflect these vacated records, the NCAA said.
Penn State must also reduce 10 initial and 20 total scholarships each year for a four-year period.
Nothing can set right the wrongs done at Penn State, but nevertheless, this is the right move by the NCAA.