From the AP story about the NCAA penalties:
The NCAA slammed Penn State for the Jerry Sandusky sex abuse scandal Monday with an unprecedented series of penalties, including a $60 million fine and the loss of all the school’s victories from 1998-2011, knocking Joe Paterno from his spot as major college football’s winningest coach.
Other sanctions include a four-year ban on postseason games that will prevent Penn State from playing for the Big Ten title, the loss of 20 scholarships per year over four years and five years’ probation. The NCAA also said that any current or incoming football players are free to immediately transfer and compete at another school.
— Stephanie Curtis, social media host